JOHANNESBURG – Private education group ADvTECH on Monday reported a 14 percent increase in operating profit to R725 million for the year ended December 2018.
ADvTECH said its revenue and profits were buoyed by its African expansion strategy and the tertiary division continuing on a growth trajectory.
Revenue was up 11 percent to R4.4 billion while normalised earnings per share increased eight percent to 81.1 cents despite a challenging economic environment.
The tertiary division continued its trend of growth with revenue up 10 percent to R1.7 billion, contributing 39 percent to group revenue.
The group opened up three new campuses in 2018, including two new digitally-enabled, blended learning sites of Rosebank College.