ADvTECH reported first-half operating profit of R1.11 billion, surpassing the R1bn mark for the first time, as the Johannesburg-listed education group posted an 8% rise in revenue to R5.06 billion for the six months ended June 30, 2026.
The group’s operating margin expanded to 22.0% from 21.0% a year earlier, while headline and normalized earnings per share both increased 16% to 130.8 cents. ADvTECH declared an interim dividend of 53 cents per share, an 18% increase from the prior period, with a dividend cover of 2.0 times.
Total shareholder returns, measured from January 1, 2025, reflected the group’s improved profitability, with return on equity reaching 20.6% as of December 31, 2025. The company completed a R250 million share buyback program, repurchasing and canceling 1% of its share capital at an average price of R43.55 per share. As of July 31, 2026, ADvTECH had a market capitalization of R26.1 billion.
The group’s education portfolio, which accounts for 87% of revenue and 96% of operating profit, drove the results. The tertiary division reported revenue of R2.24 billion, up 17% year-over-year, while operating profit rose 19% to R592 million. Schools in South Africa generated R1.86 billion in revenue, an 8% increase, with operating profit up 9% at R388 million. Schools outside South Africa contributed R303 million in revenue, up 8%, with operating profit rising 11% to R91 million.
Enrollment growth accelerated across the group, reaching 119,197 students, a 13% increase from the prior year. The tertiary division led with 71,467 students, up 11%, including a 30% surge in distance education enrollments to 10,482 students. The schools division grew to 47,730 students, with international schools expanding 16% to 13,161 students.
Capital expenditure totaled R403 million in the first half, with over R2 billion earmarked for expansion projects over the next three years. The group opened a relocated Emeris/Vega Sandton campus in February 2026, doubling capacity to 9,000 students. A 10-hectare mega campus in KwaZulu-Natal, with capacity for 23,000 square meters and a 1,000-bed student residence, is scheduled to open in 2029. Rosebank International’s Braamfontein campus underwent expansion, increasing capacity to 15,000 students, while a new campus in Ghana began operations with 350 students.
Chief Executive Geoff Jacobs highlighted the group’s market share gains in both schools and tertiary segments, noting the growing demand in the education sector. The company maintained stable capacity utilization at 84% across its 122 schools in four countries, with international schools operating at 93% utilization.
