ADvTECH increases profits by 15% (despite losing students through emigration)
Listed private education company ADvTECH increased operating profit by 15% in the six months to 30 June 2018.
Revenues increased by 13% to R14.6 million.
Headline earnings per share decreased by 9% to R369 million.
The company declared an interim dividend of 15 cents per share.
Our brands are well positioned and managed well… quality education…Roy Douglas, ADvTECH
Quality education is always going to be expensive… it is a significant investment on the part of parents… it’s heartening to see the sacrifices people make…Roy Douglas, ADvTECH
Our schools division continues to grow…Roy Douglas, ADvTECH
Emigration has taken its toll… we hoped it would slow, but it continues to be a reason for departures… 29% [of those who leave say its due to emigrating]…Roy Douglas, ADvTECH
We see opportunities in South Africa… We’ve seen outstanding growth in our mid-fee schools… We’re equally excited about the opportunities in the rest of the Continent as well.Roy Douglas, ADvTECH
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This article first appeared on 702 : ADvTECH increases profits by 15% (despite losing students through emigration)
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