ADvTECH Group
@ADvTECHGroupWe lead the private sector in the fields of education & resourcing, contributing meaningfully towards the sustainable development of human capacity in SA.
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With the acquisition of Flipper International School, ADvTECH now has over 11 000 students in Botswana, Kenya and Ethiopia.
“Flipper International School is a beacon of academic excellence in the region and we look forward to taking it to even greater heights, as we reinforce our position as a leading provider of private education on the African continent.” - Geoff Whyte, CEO, ADvTECH
“Addis Ababa, Ethiopia, is the 5th fastest growing city in Africa. One of the consequences of this rapid development has placed pressure on the public schooling system. We are well placed to meet the demand for high quality, private education.” - Geoff Whyte, CEO, ADvTECH
ADvTECH has acquired a 100% interest in Flipper International School in Ethiopia, adding five schools and 3000 students to the Group’s international portfolio.
ADvTECH acquires prime Sandton location for new University campus to co-locate Varsity College and Vega onto 9 000-strong site in 2026. advtech.co.za/advtech-acquir…
The Group’s solid balance sheet, strong cash generation, growing scale and expertise in Africa, places us in a good position to maintain our growth trajectory and invest with confidence in areas of opportunity.” - Geoff Whyte, CEO, ADvTECH
“As the leaders in teaching and learning across the African continent, ADvTECH is uniquely positioned to enrich people’s lives. We remain at the forefront of shaping the future of education.” - Geoff Whyte, CEO, ADvTECH
“Our Schools Division continues to enhance its value proposition and win market share. All brands across the division recorded strong volume and operating profit growth.” - Geoff Whyte, CEO, ADvTECH
ADvTECH’s Tertiary Division performed well. It continues to grow on the back of a well-established, high quality brand portfolio that offers a comprehensive range of programmes and qualifications. Revenue increased by 13%, while operating profit increased by 16%.
As ADvTECH continues to generate cash in excess of what is required to fund the Group’s investment programme, the Board declared an interim dividend of 38.0c (2023: 30.0 cents) per ordinary share in respect of the six months ended 30 June 2024. This represents an increase of 27%.
Normalised earnings for the period increased by 17% to R535 million, while normalised earnings per share increased by 16% to 97.7 cents per share.
ADvTECH’s Education division grew revenue and operating profit by 12% and 15% respectively and improved operating margins to 23.5% due to the benefit of operating leverage and the company’s continued drive for efficiency gains.
ADvTECH’s revenue and operating profit increased by 9% and 15% respectively for the six months to June 2024, due to continued enrolment growth at the Schools and Tertiary Divisions. Group operating margin improved to 20.2%.
ADvTECH recorded another strong set of results for the six months ended June 2024, off the back of healthy enrolment growth, moderate fee increases and continued margin improvement, despite the challenging economic environment.
The board is pleased with the appointment of Geoff Whyte as CEO and are confident that Geoff’s track record and experience will enable him to build on the group’s successes.” – board chairperson, Chris Boulle.
“Under Roy’s leadership ADvTECH has become the leading private education and recruitment group across the continent. The board thanks Roy for his invaluable contribution and wishes him well in his retirement.” - board chairperson, Chris Boulle.
ADvTECH’s tertiary division’s accelerated growth can be attributed to a well-established portfolio of quality brands offering a comprehensive range of programmes and qualifications.
ADvTECH’s school division continues to enhance its value proposition and win market share. All the division’s brands saw volume growth which drove revenue, operating profit and margin growth.
Normalised earnings per share increased by 20% to 174.2 cents (2022: 145.7 cents) per share.
Group revenue grew by 13% to R7 860 m (2022: R6 961 m), operating profit increased by 18% to R1 577 m (2022: R1 333 m) while the group operating margin improved to 20.1% (2022: 19.1%).
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