ADvTECH, the Johannesburg-listed education and resourcing group, reported a 14% increase in operating profit to R1.11bn for the six months ended June 30, 2026, surpassing the R1bn milestone for the first time. Revenue rose 8% to R5.06bn, while headline and normalized earnings per share both climbed 16% to 130.8 cents.
The interim dividend was increased by 18% to 53 cents per share, maintaining a full-year dividend cover of 2.0 times. The group also completed a R250m share buyback program, repurchasing 1% of share capital at an average price of R43.55 per share.
Education operations, which generate 87% of revenue and 96% of operating profit, continued to drive performance. The tertiary division posted a 17% revenue increase to R2.24bn and a 19% rise in operating profit to R592m, while the South African schools segment grew revenue 8% to R1.86bn and operating profit 9% to R388m. Schools in the rest of Africa reported an 8% revenue increase to R303m and an 11% rise in operating profit to R91m.
The resourcing division, impacted by the closure of USAID operations in February 2025, saw revenue decline 15% to R656m and operating profit fall 12% to R44m, though its operating margin improved slightly to 6.8%.
Group enrollment reached 119,197 students, up 13% year-over-year, with tertiary enrollments increasing 11% to 71,467. Distance education surged 30% to 10,482 students, while contact education rose 9% to 60,985. The schools division enrolled 47,730 students across 122 schools in four countries, a 7% increase from the prior year.
Capital expenditure totaled R403m in the first half, with more than R2bn in projects planned over the next three years. The Emeris/Vega Sandton campus, relocated in February 2026, now serves 9,000 students with capacity for 11,500. A 10-hectare mega campus in KwaZulu-Natal is scheduled to open in 2029, featuring student accommodation for 1,000 beds. Rosebank International’s Braamfontein campus expanded capacity to 15,000 students, while a new Ghana campus opened in January 2026 with 350 students.
ADvTECH’s share price was down 0.37% at R4,595, with a 52-week range of R3,078 to R4,955. Market capitalization stood at R26.1bn as of July 31, 2026, with average daily trading volumes up 19% to 623,718 shares. Total shareholder return reached 46% since January 1, 2025, and 181% since January 1, 2023.
