Diluted HEPS 97.1cps (+16.4% y-y).
Turnover increased by 8.7% y-y to R4 274m.
Expenses increased by 7.3% y-y while expense-to-sales decreased from 80.8% to 79.8%.
OPM increased by 100bps to 20.2%.
Dividend of 38.0cps (1H23: 30.0cps).
Cash generated from operating activities up 10.7% y-y to R1 641m.
Enrolments for Advtech schools up 4.4% y-y to 41 010 enrolments as at February 2023. Enrolments for Advtech tertiary institutions up 6.8% y-y to 52 718 enrolments as at February 2023.
Capex of R278m was focused on increasing capacity on existing sites to meet incremental demand, the development of a new school and acquiring equipment to enhance teaching and learning through technology.
ADH is in the process of acquiring a building to be a university campus. If approved by the Competition Commission it will result in a R419m capex over the next two years.
