ADvTECH more than doubles dividend on strong earnings
Private education group, ADvTECH, says it has a sustainable model that yielded some returns for the year ended 31 December 2021. Headline earnings per share surged by over 33 per cent on the back of a strong enrolment numbers. Joining CNBC Africa for more is Roy Douglas, CEO, ADvTECH.
Mon, 28 Mar 2022 15:57:07 GMT
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AI Generated Summary
- ADvTECH's 33% increase in headline earnings is attributed to a focus on delivering value to consumers and operational efficiency.
- The company withheld pricing increases in its schools division and took below inflationary increases in its tertiary division to ease financial pressures on consumers.
- ADvTECH is looking to expand its operations in Africa with a cautious approach to acquisitions and market consolidation.
Private education group, ADvTECH, has reported a significant surge in headline earnings for the year ending 31 December 2021, with a 33% increase. The company's CEO, Roy Douglas, attributes this growth to increased revenue across all divisions, driven by a focus on delivering value to consumers. Despite challenges faced during the pandemic, ADvTECH managed to grow its earnings and profit positions, making the recent results all the more impressive. The company withheld pricing increases in its schools division and took below inflationary increases in its tertiary division, understanding the financial pressures on consumers. By eliminating wastage and duplication within its systems and processes, ADvTECH has been able to extract significant value and enhance its value proposition for consumers. Douglas highlighted the importance of delivering quality education while also being mindful of the cost to consumers. He emphasized the company's commitment to driving efficiency and passing on cost savings in the form of affordable fee increases. ADvTECH's strategy of focusing on value proposition and operational efficiency has resulted in strong financial performance and growth in revenue. The company's long-term vision includes expanding its operations in Africa, but with a cautious and prudent approach to acquisitions and market consolidation. Despite challenges faced in the rest of Africa due to government decisions to close down the academic year, ADvTECH has seen a partial recovery and is optimistic about the future.