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<\/a><\/figure><\/div>\n\n\nThe group noted that 32,786 students are enrolled in its South African schools.<\/p>\n\n\n\n
Locally, AdvTech noted revenue increased by 13% to R2.81 billion (2022: R2.49 billion), and operating profit increased by 18% to R570 million (2022: R484 million), with the operating margin improving
to 20.3% (2022: 19.4%).<\/p>\n\n\n\n
The group added that it recorded exceptional results in the 2023 Independent Examinations Board examinations, retaining a leadership position in private education in South Africa. <\/p>\n\n\n\n
Students achieved a 99.7% pass rate, and 87.7% obtained a bachelor’s degree pass.<\/p>\n\n\n\n
The company\u2019s tertiary division also posted strong growth, with its Independent Institute of Education generating R3 billion in revenue or 38% of total revenue.<\/p>\n\n\n\n
This translated into solid growth for the company, with revenue climbing 13% to R7.86 billion and profit shooting up 18.56% to R998 million.<\/p>\n\n\n\n
Interestingly, the group highlighted that the Varsity College campuses in Pretoria and Midrand were expanded in response to growing demand. <\/p>\n\n\n\n
Equally, Rosebank College acquired additional capacity at its mega-campuses in Braamfontein and Pretoria and opened a new digitally enabled campus in Mbombela in January 2024.<\/p>\n\n\n\n The company still has room to grow, with only 68% of its ultimate school capacity being utilised.<\/p>\n\n\n\n AdvTech also crossed a significant financial milestone, with it now generating more cash than is needed to fund its investments.<\/p>\n\n\n\n Thus, the company increased its dividend payout to shareholders by 45% to 87 cents for the financial year.<\/p>\n\n\n\n \u201cAdvTech remains very well positioned to benefit from the increase in demand for education in South Africa and particularly in the rest of Africa. <\/p>\n\n\n\n “Our focus on productivity, efficiency and leveraging scale to deliver value in quality education remains key to our continued growth,\u201d said Douglas.<\/p>\n\n\n\n While he acknowledged that the current economic conditions had put South African consumers under pressure, he believes that AdvTech is uniquely positioned to leverage all its advantages to benefit from continued growth in demand for education in South Africa.<\/p>\n\n\n\n<\/a><\/figure>\n\n\n\n
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