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ADvTECH keeps bad debts in school fees to below 1%, ups dividend by a fifth | Business

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Private education group ADvTECH says it managed to keep bad debts in its schools at under 1% of their revenue in 2022 thanks to a successful collection drive. | News24_Business

Analyst Anthony Clark of Small Talk Daily Research describes the ADvTECH results as extremely resilient despite the weakness in the domestic economy and constraints on consumer spending.Private education group ADvTECH says it managed to keep bad debts in its schools at under 1% of their revenue in 2022 thanks to a successful collection drive.

The continued focus on collection also improved results at its resourcing division, which is focused on filling job vacancies, but its tertiary division was hit by"challenges" in transferring data during a migration to a new integrated business system, it said on Monday, resulting in billing issues that affected returning students.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

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