ADvTECH (ADH) 1H23 – Results Snapshot

Diluted HEPS 83.4cps (+24.3% y-y).
Turnover increased by 16.3% y-y to R3 932m.
OPM increased by 107bps to 19.2%.
Expenses increased by 14.8% y-y while expense to sales decreased to 80.8% from 81.9%.
Dividend of 30.0cps.
Cash generated from operating activities up 5.0% y-y to R1 387m.
Enrolments for Advtech schools up 6.8% y-y to 39 290 enrolments as at February 2023. Enrolments for Advtech tertiary institutions up 3.8% y-y to 49 341 enrolments as at February 2023.