AdvTech reported robust results for the first six months of 2024. Revenue was R4.3 billion, up 9% and operating profit rose 15% to R865 million, driven by a 6% increase in enrolments amid growing demand for private education in South Africa.
Enrolment gains were broad-based, with South African schools up 5%, the rest of Africa up 4%, and the tertiary sector increasing by 6%. AdvTech is expanding its footprint through ongoing renovations and new campus developments, including a new Pinnacle College set to open in 2025.
The group is also enlarging several Rosebank College campuses and seeking regulatory approval for a new university site. The company remains my favourite education operator thanks to its strong brands like Abbotts College, Crawford Schools, Monash SA, and Trinity House.
AdvTech's strong financial performance and strategic expansion plans underline its commitment to its quality private education niche.