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IDP shares almost halve in value; mark worst day ever

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Stock worst performer on benchmark ASX200 index

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Expects 28%-30% fall in student placement volumes for FY25

By Aaditya GovindRao

June 3 (Reuters) - Australia's IDP Education ( IDPUF )

forecast a drop in annual profit on Tuesday, triggering a 48%

plunge in its shares as tighter student visa rules hit demand at

the firm that jointly owns the IELTS English language exam with

the British Council and Cambridge University Press & Assessment.

The company forecast fiscal 2025 adjusted operating earnings

of A$115-A$125 million, nearly halved from last year and below a

consensus estimate of A$166.3 million according to E&P Capital

analysts.

IDP's stock slumped as much as 48.3% by 0411 GMT, marking

its biggest intraday decline ever. It was last down 45% at

A$4.11, trading at near eight-year lows and the worst performer

on the benchmark S&P ASX200 index.

The company, which also provides placement services to

students looking for admissions at foreign institutes, said

student policies remained restrictive in Canada and Australia

after their elections, while the UK's recent immigration policy

white paper signaled further restrictions to student

immigration.

For the United States, the international student environment

is "increasingly negative", the company said in a statement.

President Donald Trump's administration is seeking to ramp

up deportations and revoke student visas as part of his hardline

immigration agenda.

"While elections have now been held in all key destination

markets, policy uncertainty and negative rhetoric continues,

while economic uncertainty increased," the company said.

IDP expects its student placement volumes to fall by 28% to

30% and language testing volumes to decrease 18% to 20% over

last year.

"Whilst fee growth will partly offset volume declines, we

had expected a better performance than overall market declines

given IDP's focus on genuine student flows," analysts at

Sandstone Insights said in a note.

($1 = 1.5461 Australian dollars)