AdvTech has reported strong financial growth as student enrolments exceeded 100,000 for the first time. The education group saw a 16% increase in headline earnings per share (HEPS) to 202.2 cents for the year ending December 2024. Revenue grew by 8% to R8.52 billion, driven by higher enrolments and moderate fee increases. Operating profit rose 14% to R1.79 billion, while shareholders were rewarded with a full-year dividend of 101 cents per share, up from 87 cents the previous year.
The company’s expansion across Africa has played a crucial role in this growth. AdvTech invested heavily to increase capacity in its existing campuses and expand its international presence. In November, it acquired Flipper International School in Addis Ababa for $7.5 million (R135 million), adding five schools and over 3,000 students to its network. The company also expanded Gaborone International School in Botswana and announced plans to increase Nairobi’s Crawford International School’s capacity to meet rising demand. In Kenya, AdvTech reported a growing preference for its Makini Cambridge International curriculum over the national syllabus, reflecting the demand for high-quality private education.
In South Africa, AdvTech expanded its Pinnacle College network with a new campus and doubled student capacity at Rosebank College locations in Pretoria, Braamfontein, and Cape Town. Additionally, the company completed the acquisition of FNB’s former training and conference centre in Sandton, which will be transformed into a university campus for its Varsity College and Vega brands. This new facility will accommodate up to 9,000 students, further strengthening AdvTech’s presence in the tertiary education sector. These strategic investments highlight AdvTech’s commitment to meeting the increasing demand for quality education in South Africa and across the continent.