ADvTECH delivers strong set of results and increases dividend by 45% Sustained contribution from all operating divisions

25 March 2024: Commenting on the results, retiring ADvTECH CEO, Roy Douglas, said: “ADvTECH’s robust financial performance for the year ended December 2023 is indicative of the group’s sound business model and quality assets. Our schools and tertiary divisions benefitted from good enrolment growth, moderate fee increases and enhanced operating leverage, while, in our resourcing division, we continued to benefit from our investment into the rest of Africa. This sustained performance is driven by the group’s established market position in South Africa and its growing presence across the continent.”


“Furthermore, the significant investments made by the group over a number of years are contributing meaningfully to earnings and cash generation. ADvTECH is now in a position where we are generating cash in excess of our investment funding requirements and consequently, the board has increased the dividend payout to shareholders by 45%.”


Group operational and financial performance


  • Revenue up 13%
  • Operating profit up 18%
  • Normalised earnings up 20%

 

ADvTECH’s strong financial performance, solid cash generation and healthy balance sheet reflect the group’s sound business model, clear market positioning and emphasis on effectiveness and efficiencies.

 

Group revenue grew by 13% to R7 860 million for the year (2022: R6 961 million) as a result of good enrolment growth in both the schools and tertiary divisions, as well as from increased business activity in the resourcing division. Operating profit increased by 18% to R1 577 million (2022: R1 333 million) while the group operating margin improved to 20.1% (2022: 19.1%). Normalised earnings for the year increased by 20% to R950 million (2022: R790 million) while normalised earnings per share increased by 20% to 174.2 cents (2022 145.7 cents) per share.

 

Cash generated from operating activities increased by 10% to R1 940 million (2022: R1 766 million) illustrating the strong cash generating capacity of the group.

 

Capital expenditure was focused on meeting incremental demand via increasing capacity at existing sites as well as the development of a new school and a new tertiary site. Capital expenditure was also allocated to acquiring equipment and technology to enhance the group’s teaching and learning capability and was used to enhance business systems focused on the standardisation of group-wide processes to allow for further efficiency improvements.


The significant investments made by the group over a number of years have begun contributing meaningfully to both earnings and cash generation and, as a result, this reduced borrowings.

 

ADvTECH is now in the position where it is generating cash in excess of what is required to fund the group’s investment programme. Consequently, to better manage the group’s capital structure and optimise return on equity, the board elected to reduce the dividend cover and increase the dividend payout.

 

A final gross dividend of 57.0 cents (2022: 37.0 cents) per ordinary share in respect of the year ended 31 December 2023 was declared, bringing the full year dividend to 87.0 cents (2022: 60.0 cents) per share for the 2023 financial year.


Schools South Africa

 

  • Revenue up 13%
  • Operating profit up 18%
  • Operating margin improved to 20.3%

 

The schools division continued to enhance its value proposition and win market share, despite the tough operating environment. All the division’s brands recorded volume and operating profit growth.

 

Revenue increased by 13% to R2 810 million (2022: R2 492 million) and operating profit increased by 18% to R570 million (2022: R484 million) with the operating margin improving to 20.3% (2022: 19.4%).

 

Students at ADvTECH recorded exceptional results in the 2023 Independent Examinations Board examinations achieving an impressive 99.7% pass rate, while 87.7% obtained a bachelor degree pass.


Schools in the rest of Africa


  • Revenue up 14%
  • Operating profit up 43%
  • Operating margin improved to 30.0%

 

ADvTECH’s school brands in the rest of Africa recorded strong enrolment growth. Revenue increased by 14% to R381 million (2022: R334 million) while operating profit improved by 43% to R114 million (2022: R80 million) despite the impact of the weakening Kenyan Shilling. The operating margin advanced from 23.9% to 30.0%.

 

Capacity was increased at Crawford International School in Kenya as it continued to experience strong demand. All of the final year students that completed their A-Level qualification were accepted into international universities.



Gaborone International School (GIS) in Botswana continued to perform exceptionally well with strong enrolment growth and market leading academic results. The students achieved a 99.7% pass rate in the International General Certificate of Secondary Education (IGCSE) exams.

 

Tertiary/University

 

  • Revenue up 10%
  • Operating profit up 16%
  • Operating margin improved to 26.4%

 

ADvTECH’s tertiary division continues to perform well, growing off the back of a well-established portfolio of quality brands that offer a comprehensive range of programmes and qualifications. The group’s ability to provide multi-channel modes of delivery (contact, blended, online, full-time, part-time and distance) is central to it proposition and allows the division to meet the requirements of every student at any time, at any location.


Revenue increased by 10% to R2 988 million (2022: R2 728million) and operating profit grew by 16% to R787 million (2022: R680 million). Operating margin increased to 26.4% (2022: 24.9%) benefitting from effective cost containment measures.

 

The Varsity College campuses in Pretoria and Midrand were expanded in response to growing demand. Equally so, 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. 

 

Resourcing

 

  • Revenue up 26% in rest of Africa
  • Operating profit up 28% in rest of Africa

 

The strategy to expand into the rest of Africa continues to bear fruit. Volumes grew substantially over the year resulting in revenue increasing by 26% to R1 452 million (2022: R1 155 million) and operating profit by 28% to R105 million (2022: R82 million).

 

The South Africa resourcing business’ revenue contracted by 9% to R229 million (2022: R252 million) due to the disposal of the group’s 51% share of the Contract Accountants group in the second half of the prior financial year, along with the tough trading environment.


Retirement of Roy Douglas and appointment of Geoff Whyte


As indicated in previous announcements, on 29 February 2024, Roy Douglas officially retired and stepped down as the CEO of ADvTECH. One of his last formal responsibilities, however, will be to present the financial results to the market. Roy will be joined at the results presentation by the new group CEO, Geoff Whyte.



Commenting on the developments, board chairperson, Chris Boulle commented: “Roy has successfully led the group in its expansion strategy during his tenure, resulting in ADvTECH becoming the leading private education and recruitment group across the continent. He leaves ADvTECH in a strong position to continue its growth trajectory. The board wishes to thank Roy for his invaluable contribution during his tenure as CEO and wishes him well in his retirement.”


“The board is similarly pleased with the appointment of Geoff Whyte as CEO and are confident that Geoff’s track record and experience will enable him to build on the group’s successes.”

 

Prospects

 

The continued growth in demand for quality education in South Africa, particularly in the rest of Africa, persists. Consequently, the group remains confident that it will be able to sustain its growth trajectory due to its ability to convert demand into continued enrolment growth, at both the schools and tertiary divisions.

 

Commenting on the group’s outlook, Douglas said: “ADvTECH remains very well positioned to benefit from the increase in demand for education in South Africa and particularly in the rest of Africa. Our focus on productivity, efficiency and leveraging scale to deliver value in quality education remains key to our continued growth.”


ADvTECH Updates

ADvTECH launches groundbreaking academic centre of excellence

By Tamara Thomas • October 30, 2025
Setting new benchmark in African Higher Education

ADvTECH’s Maragon Mooikloof Achieves Top Honours at Northern Gauteng Science Expo

By Tamara Thomas • October 22, 2025
Students from ADvTECH’s Maragon Mooikloof showcased impressive scientific talent at the 2025 Northern Gauteng Senior Science Expo, earning multiple medals and reaffirming The ADvTECH Advantage of consistent, superior academic outcomes. Held on 19–20 September 2025, the Expo brought together some of the region’s most promising young scientists, engineers, and innovators. Competing against top-performing schools from across Northern Gauteng, Maragon Mooikloof learners impressed judges with their creativity, analytical thinking, and practical application of scientific principles standing out as some of the event’s top achievers. Outstanding Achievements for Maragon Mooikloof Students The school’s students demonstrated exceptional ability across several categories, earning both silver and bronze medals for their innovative project s. 

Turning pages, sparking magic: why ages 10-12 is the make or break stage for cultivating a love of reading

By Tamara Thomas • October 17, 2025
Children between ages 10 and 12 are at a fascinating stage of life. They’re no longer little kids, but they’re not yet teenagers. They’re starting to ask bigger questions, push boundaries, and search for who they are becoming. Amid all these changes, reading plays a powerful role, and schools and parents should strongly encourage students to build their reading muscle during this time, an education expert says. “In contrast to content on devices, books give children a safe space to explore new ideas, test out possibilities, and imagine life through someone else’s eyes. They also strengthen critical thinking, boost vocabulary, and build empathy - all skills that help pre-teens navigate school and friendships with more confidence,” says Nalani Singarum, Academic Advisor at ADvTECH Schools. “Most importantly, reading at this age lays the foundation for a lifelong habit. A child who enjoys books at ages 10 to 12 is far more likely to carry that love into their teenage years, when the pull of social media and other distractions becomes stronger,” she says. A 2024 study of children aged 10 to 12, by neuroscientists at Columbia University’s Teachers College, found that reading on paper promoted "deeper reading" with better comprehension and processing of complex texts. It was noted that this age group is pivotal for transitioning from "learning to read" to "reading to learn”, making physical books ideal for exploring ideas and imagining others' perspectives without digital distractions. “Even where children at this age did not previously enjoy reading books, it is not too late to develop a regular and enjoyable reading habit,” says Singarum. “Regular reading during this key developmental period will support stronger understanding across subjects, better information absorption, and clearer expression of ideas throughout the child’s life.” CREATING A READING-RICH HOME Pre-teens crave independence, yet they still look to their parents for cues. The best way to nurture reading at this age is to show that it’s valued at home - not as a school task, but as part of family life. Practical ways to create a reading-rich environment include: Bedtime shifts: Before bedtime, spend some time reading side by side. You each choose your own book, then share a favourite line or moment. It shows that reading is for everyone, not just a chore for children. (And no, reading on devices do not count). Reading in everyday life: Invite your child to read maps while travelling, menus at restaurants, or DIY instructions at home. These moments prove that reading has value beyond the classroom. Word of the day challenge: Let your child pick an unusual word from a book and challenge the family to use it naturally in conversation. Older children enjoy the playful competition and sense of mastery. Treasure hunts with riddles: Write riddles or codes your child must solve to find the next clue. Link some clues to favourite books for an extra spark. Peer power: Encourage your child to swap books with a friend or start a mini book club, to make reading become a social, not a solitary activity. THE ROLE OF SCHOOLS Beyond the curriculum, schools play a key role in creating an environment where reading is valued and enjoyable, which helps students build positive associations with books and learning. “Schools offer social and collaborative opportunities that enhance reading motivation and enjoyment. By fostering a love of reading within a communal and supportive learning environment, schools complement and extend the encouragement children receive at home, making the development of reading habits more comprehensive and durable,” says Singarum. She adds that it is valuable to have structured programmes, rather than just ad hoc reading opportunities. “At ADvTECH, we have a reading programme called Booktacular, which is specifically designed to make reading meaningful and magical again. Through activities like Book Clubs that spark lively conversations, creative ‘Book review in a bag’ projects, Literature Circles where every child takes on a role, and Visual literacy tasks that bring pictures to life, children discover that stories are adventures to be explored, not assignments to be completed.” Parents can extend this spirit into their homes with small, joyful habits like these. When reading feels playful and purposeful, children are far more likely to carry that joy into their teenage years and beyond, Singarum says. “Between ages 10 and 12, children are shaping their identities. They’re learning who they are, who they want to be, and how they see the world. Books offer them mirrors to see themselves and windows to step into lives very different from their own. “As parents and teachers, when we nurture a love of stories, we’re not only supporting school success, we’re giving our young people tools for life.”

Mixing business with humanities: empowering graduates requires curricula reform

By Tamara Thomas • October 16, 2025
The traditional dichotomy between commerce and the humanities has long been a fixture in academic and professional landscapes. However this historic status quo is no longer tenable, and universities must adapt to ensure curricula contain a suitable blend of disciplines to empower students for life after studies, an education expert says. “Combining commerce and humanities creates a powerful synergy that enhances decision-making, innovation, and adaptability in business,” says Peter Kriel, General Manager at The Independent Institute of Education, SA’s leading private higher education provider. “This interdisciplinary approach also produces well-rounded professionals who can address the complex challenges of our current world, and the ones they will face in future,” he says. Kriel explains that while universities traditionally had commerce and humanities students stay in their lanes, there is a growing recognition of the synergies that exist at the intersection of these seemingly disparate disciplines. “It is therefore becoming important to delve into the benefits and possibilities of bridging and intersecting the so-called traditional commerce and humanities disciplines, highlighting how this convergence can lead to innovative thinking, enhanced problem-solving, and a more holistic approach to navigating the challenges of the modern world,” he says. The intersection between commerce and humanities represents the blending of analytical and creative thinking. Commerce brings a structured, business-oriented approach, while humanities bring a focus on critical thinking, cultural understanding, and ethical considerations. “Together, these disciplines offer a unique perspective that goes beyond the quantitative aspects of business” says Kriel. Better decision-making The integration of humanities into commerce fosters a more comprehensive decision-making process. By considering ethical, social, and cultural implications, businesses can make informed choices that align with broader societal values. This not only contributes to corporate social responsibility but also enhances the reputation and sustainability of organisations. Innovation through diversity Bridging disciplines encourages a diverse range of perspectives and ideas. The humanities bring creativity, empathy, and an appreciation for diverse cultures, which can lead to innovative solutions to business challenges. A multidisciplinary approach fosters a culture of innovation that goes beyond conventional problem-solving methods. Improved communication Humanities disciplines, such as literature, philosophy, and communication, emphasise effective expression and understanding of human experiences. Integrating these skills into the business realm promotes clearer communication within organisations and with external stakeholders. The ability to articulate ideas, negotiate effectively, and understand different points of view becomes a valuable asset. Ethical leadership Humanities education often emphasises ethical reasoning and moral philosophy. Integrating these principles into commerce promotes ethical leadership, guiding decision-makers to consider the broader impact of their choices on society, the environment, and future generations. Resilience The business landscape is dynamic, and the ability to adapt is crucial for success. Humanities education encourages adaptability by fostering critical thinking, intellectual curiosity, and a willingness to engage with new ideas. This mindset is invaluable in navigating the uncertainties and disruptions that businesses frequently encounter. “As the nature of work evolves, employers increasingly seek individuals with a diverse skill set that goes beyond technical proficiency. The intersection of commerce and humanities prepares individuals for the future of work by combining analytical and creative skills, making them well-rounded professionals capable of addressing complex challenges,” says Kriel.  “This combination represents a powerful synergy that can redefine how we approach business, education, and societal challenges. By breaking down the barriers between these disciplines, higher education institutions can ensure that they not only cultivate more versatile and innovative graduates, but also foster a society that values both economic success and human flourishing.”

Dealings in securities by a prescribed officer of the company

By Tamara Thomas • October 13, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY A PRESCRIBED OFFICER OF THE COMPANY In compliance with the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by an ADvTECH Prescribed Officer.

Dealings in securities by a prescribed officer of the company

By Tamara Thomas • October 10, 2025
ADvTECH Limited (Incorporated in the Republic of South Africa) (Registration number 1990/001119/06) Share code: ADH ISIN: ZAE000031035 (“ADvTECH” or “the Company”) DEALINGS IN SECURITIES BY A PRESCRIBED OFFICER OF THE COMPANY In compliance with the JSE Limited Listings Requirements the following information is disclosed in respect of dealings in ADvTECH securities by a Prescribed Officer.

Community Schools Group Excel at Annual Resolute Roboticon

By Tamara Thomas • October 8, 2025
The Annual Resolute Roboticon took place on Saturday, 13 September, at the Heartfelt Arena in Pretoria North, attracting over 3,000 entries from schools across South Africa. Only 360 students were selected to compete, making participation an achievement. The Community Schools Group proudly fielded 12 teams across five competitive categories, representing the Pinnacle Colleges brand: Pinnacle College Waterfall (3 teams) Pinnacle College Rynfield (4 teams) Pinnacle College Linden (1 team) Pinnacle College Kyalami (1 team) Tyger Valley College (3 teams) Our students achieved outstanding results: · Pinnacle College Linden – 1st place in the Advanced Category · Tyger Valley College – 2nd place in both Advanced and Apprentice 3 categories · Tyger Valley College – 3rd place in the Entrepreneurship Category “These achievements underscore the growing impact of Robotics and Coding within the Pinnacle Colleges brand. By immersing students in real-world problem-solving, opportunities such as Roboticon empower learners to thrive in an exceptional and future-focused technology space,” said Altie van Schalkwyk, Academic Head of Brand – Community Schools Group. Initiatives like Roboticon reflect how Pinnacle Colleges are promoting a culture of innovation, preparing students to lead confidently in a technology-driven world.

Little questions, big discoveries: why schools must embrace inquiry-based learning

By Tamara Thomas • October 6, 2025
Children are naturally curious. Whether it’s watching a bug crawl across the floor, splashing in a puddle, or asking “why” countless times in an hour, their world is filled with questions. This curiosity is more than just a phase. It is the foundation of learning and confidence, and should form the starting point for learning at home and at school. Zaakirah Mahomed, Academic Advisor: Foundation Phase at ADvTECH, Africa’s largest private education provider, says Inquiry-Based Learning (IBL) is an approach that harnesses children’s innate sense of wonder. “It transforms everyday questions into meaningful discoveries, sparking a lifelong love for learning. For this reason, it is important that when choosing your child’s first school, you ensure the school’s approach is based on harnessing inquiry-based learning, not just handing down of facts. The latter carries a risk that learning is viewed as work from a young age, which can negatively influence attitudes to learning throughout the child’s life.” In a classroom rooted in inquiry, children are not simply passive recipients of facts. Instead, they are encouraged to wonder, explore, and investigate. “Rather than memorising information, learners might explore why leaves change colour, how magnets work, or what creates a rainbow. Guided by their teachers, they investigate these ideas through hands-on activities, experiments, and creative projects. The learning feels like play, but the impact is powerful,” Mahomed says. Research underscores the effectiveness of Inquiry-Based Learning in fostering deeper understanding and retention. A meta-analysis of 54 studies published in American Psychological Association’s Journal of Educational Psychology found that students engaged in IBL demonstrated significantly higher levels of conceptual understanding in science compared to those taught through traditional methods. By actively exploring questions and constructing knowledge through guided investigations, children develop a stronger grasp of complex concepts, as they connect new information to their own experiences and curiosity. This approach not only enhances academic performance but also cultivates a mindset of inquiry that prepares students for lifelong learning, the analysis found. The importance of IBL is further highlighted by its alignment with 21st-century skills. According to a 2020 report by the World Economic Forum, critical thinking, problem-solving, and creativity are among the top skills needed in the modern workforce. IBL directly supports the development of these competencies by encouraging children to ask questions, analyse evidence, and collaborate on solutions. “By engaging in inquiry-driven tasks, such as designing experiments or debating hypotheses, students build the intellectual flexibility and resilience needed to navigate an increasingly complex world,” Mahomed notes. IMMEDIATE BENEFITS FOR YOUR CHILD Inquiry-Based Learning isn’t just about preparing children for the future, however. “IBL fosters engagement, curiosity, and confidence from the very start. Children are encouraged to experiment, make mistakes, and try again. Helping them to see that errors are simply stepping-stones to discovery,” says Mahomed. “When learners test how water flows through a funnel or why a toy rolls differently on tile compared to carpet, they are building critical thinking skills. These problem-solving abilities help them not only with schoolwork, but also in everyday life.” IBL also nurtures collaboration and communication. As children work in small groups or pairs, they learn to share ideas, listen to others, and work as a team. “Even the quietest child can find their voice when their question leads to an exciting experiment or project,” she notes. CHOOSING THE RIGHT SCHOOL When selecting a school, parents should look for one that prioritises inquiry as part of its teaching and learning approach. Such schools encourage curiosity-driven lessons, creativity, and real-world problem-solving. “Outstanding foundation phase schools place a strong emphasis on Inquiry-Based Learning and student agency. They proceed from the belief that children should have a voice and choice in their learning, because by taking ownership of their questions and discoveries, children build independence and confidence,” Mahomed says. “Parents can be assured that this approach does more than prepare children academically. It equips them with the resilience, adaptability, and problem-solving skills they need to thrive in a fast-changing world.”

Crawford International Pretoria School Invasion with Anele and The Club and 94.7

By Tamara Thomas • September 29, 2025
Crawford International Pretoria was buzzing with excitement on Tuesday, 9 September, when one of South Africa’s premier radio breakfast shows, 947’s Anele and the Club, broadcast live from our sports field. The day kicked off bright and early at 06:00 with games, quizzes, and prizes that had everyone involved. From Grade 0000 to Grade 12, our students embraced the challenge—taking part in games of chance, mental agility, and physical skill. The atmosphere was vibrant, colourful, and filled with energy, bringing the entire Crawford International Pretoria community together. A special highlight of the morning was a surprise performance by renowned South African singer, songwriter, and record producer Jeremy Loops, joined on stage by Sibongiseni of the legendary Ladysmith Black Mambazo. Their live performance was nothing short of unforgettable. And to top it all off—we won R50 000 for our school! It was a day to remember, showcasing our unique spirit, talent, and stories to the whole of Gauteng. We truly showed what it means to be #ProudlyCrawfordian. 

ADvTECH’s Emeris launch marks a new era for Higher Education in South Africa

By Tamara Thomas • September 19, 2025
JSE-listed ADvTECH has announced the launch of Emeris, a groundbreaking new private higher education brand that will bring the Varsity College, Vega School, and MSA brands together under a single name. One aspect of the change is the building of a state-of-the-art R420m mega campus in Sandton, Johannesburg. This development will bring the existing Varsity College Sandton and Vega Bordeaux operations together on the same site. It will open its doors in 2026 with an initial capacity of 9,000 students. Facilities will include a double-storey library and information centre, a student experience hub with career and counselling services, a custom-designed indoor sports centre capable of hosting international events and innovation spaces including IT labs, podcast studios and interactive mock classrooms.