Private school and college company ADvTECH can see increasing expansion opportunities in Africa.Photo: Simphiwe Mbokazi
DURBAN - Listed private education group ADvTECH has identified Kenya as the next in its quest to grow its educational footprint in Africa with the expected opening of Crawford International School later in the year.

The group said yesterday that it generated 11percent of its revenue from ventures outside of South Africa and wanted to lift the target to 30percent by 2020, having grown it from 6percent of revenue in 2016.

Chief executive Roy Douglas said ADvTECH was on track to meet its 2020 targets.

The group has a presence in Zambia and Botswana. It acquired a 51percent stake in a private tertiary institution, the University of Africa, for R5million in January last year. In Botswana, the group operates Gaborone International School.

The group reported results for the year to December and said it had grown its portfolio to 117 education sites, up from 98 compared with last year. Its revenue increased 22percent to R4.1billion for the year-end to December - up from R3.4bn last year - benefiting from strong growth at its tertiary division.

The division upped its revenue by 26percent to R1.58bn, and it contributed 39percent to the total group revenue. The division’s offerings include 165 accredited tertiary courses, from vocational training and higher certificates to degrees and PhD programmes.

Earnings before interest, taxation, depreciation and amortisation increased by 7percent to R795.4m, up from R740.6m.

Operating profit was up by 22percent to R761m, while normalised earnings a share increased by 20percent to 75.8cents a share.

A dividend of 19c a share was declared.

ADvTECH shares closed 0.13percent lower on the JSE yesterday at R15.70.

- BUSINESS REPORT