Advtech posts 13% jump in FY revenue

Advtech, a leading education provider, has reported a 13% increase in full-year revenue, showcasing resilience and success in a challenging economic environment. In a recent interview with CNBC Africa, Roy Douglas, CEO of Advtech, shared insights into the company's performance and future prospects. Douglas expressed concern for students affected by the closure of some colleges mandated by the Department of Education, emphasizing the importance of supporting learners in the midst of their educational journeys. He highlighted Advtech's willingness to assist impacted students in continuing their studies and ensuring the recognition of their credits. Despite economic pressures impacting consumer disposable income, Douglas credited Advtech's commitment to delivering quality education and maintaining a value proposition that resonates with consumers for their positive financial results. The company's focus on efficiency and responsible pricing strategies has contributed to their growth, with notable increases in enrollment numbers for both schools and tertiary education divisions. Looking ahead, Douglas remains optimistic about the business's prospects, buoyed by strong enrollment figures and growth in markets beyond South Africa. He acknowledged the potential for expansion in the Southern African Development Community (SADC) region and other parts of sub-Saharan Africa, citing successful operations in Botswana and Kenya as examples of Advtech's growth potential. The CEO expressed enthusiasm for exploring new markets across the continent and capitalizing on opportunities for expansion. With a track record of success in providing value to consumers and delivering strong academic results, Advtech is poised to capitalize on the growing demand for quality education in Africa. In conclusion, Advtech's performance demonstrates its ability to thrive in a challenging economic climate, setting the stage for continued growth and success in the education sector.