Advtech FY results

26-MAR-18

Last Tuesday I went to the AdvTech full-year results presentation for the period ending 31 December 2017. I will look at the numbers excluding the once off fraud impact. A financial manager syphoned off R5m over a period of 3 years. In that process, revenues were overstated and costs understated. Management is confident that the issue has been dealt with.


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AdvTech HY numbers - on course

22-AUG-17

Yesterday we received results from AdvTech, a stock we have recently recommended. There was a trading update a few weeks back which meant there were no real surprises in the numbers. The image below breaks down the revenue and profit splits for the 6 months ending 30 June 2017.


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A New Buy Recommendation On AdvTech

01-AUG-17

An Educated Call on AdvTech Vestact is initiating a buy recommendation on education group AdvTech for JSE accounts.


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ADvTech purchases Summit College

18-SEP-15

Some notable news out yesterday from AdvTech who announced Accelerates Growth Strategy With R82 Million Acquisition Of Summit College. You can understand why management were not keen to be taken over by Curro, they still have big growth plans for the company. There were two other big acquisitions relatively recent, with the R450 million Maravest purchase (4 443 students) on the 24 November 2014 and the Centurus Colleges acquisition of R712 million (3080 students) on the 16 September 2014. Summit College which is based in Kyalami has 590 students with the capacity to grow to 1 000.


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Advtech leadership shuffle and numbers

23-MAR-15

Strange. Advtech had delayed their results and have released them this morning, it looks like a week later than anticipated, nothing terribly bad about that. However, what is strange and fishy, is that Leslie Maasdorp is out. Here is the official line: "ADvTECH and the Group CEO Mr Leslie Maasdorp have reached a mutual agreement to part ways. The terms are confidential to the two parties." Well. And ex CEO Frank Thompson has been appointed interim CEO. Out and back in, whilst the company are looking for someone who is full time. Maasdorp has only been in the CEO role for a little over six months (less, full time), talk about a very short time there. And when does he leave? 23 March. Which is today. Confidential? Wikipedia has a sentence in the Corporate Governance segment that says: "Corporate governance practices are affected by attempts to align the interests of stakeholders."


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Advtech gets the go ahead

17-DEC-14

Advtech have received Approval From The Competition Commission For The Centurus Acquisition. They have been on an acquisition spree recently to try catch up to Curro. The market has given a premium to both stocks, Advtech is up 59% for the year and is trading on a PE of 64. Curro is flat for the year and still trades at the lofty price of 167 times earnings. Education is a great sector to be in because a stumbling government are your competition and you have the growth in population numbers.


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ADvTech results are decent enough

19-MAR-12

This morning we had full year numbers from a company that operates in a sector I find very exciting. I'm talking about Advtech, one of two listed companies who offer private education. As expected the results looked fairly good managing to grow revenue by 9% and operating profit by 13%. Operating profit in the education sector grew 17% while overall headline earnings per share grew 9%. This company is not only involved in Private education, they also do job placements which makes sense. After you have received your Tertiary education from the likes of Vega or Varsity College they will help you find a job. If you want to learn more about the company and there brands here is their website.


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ADvTECH interim results. Not bad at all.

23-AUG-11

ADvTECH came out with interim results for the 6 months ended 30 June yesterday. If you don't know who they are, here is a brief description. The ADvTECH Group is one of the largest diversified education, training and placement groups in South Africa. It is listed in the Specialised Consumer Services -- Education, Business Training and Employment Agencies sector of the JSE Ltd. Ever heard of brands such as Abbotts College, Crawford Schools, College Campus, The Design School Southern Africa, Forbes Lever Baker, Imfundo (incorporating Corporate College International), Junior Colleges, Rosebank College, Trinityhouse, Varsity College and Vega? These are the well known brands that fall under their education division which is responsible for 87% of the company's revenues.


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