JSE-listed private school education stock AdvTech Group’s rest of Africa operations have reported significant full-year growth for the period ended 31 December, boosting full-year profits and earnings. The group which has operations in Botswana and Kenya informed shareholders on Monday that its operations on the continent, apart from those in South Africa, saw a 25% increase in revenue and a 69% increase in operating profit.
“The strategic decision to invest in selected markets in Africa is delivering results and making a significant contribution to the group with the combined operating profit for schools rest of Africa division and resourcing rest of Africa division for the year amounting to R162 million rose by 20% to 146.5 cents, up from 121.6 cents on the prior period, while group operating profit grew by 20% to R1.33 billion.