We’ve had over 500 withdrawals [due to emigration] during this year … We had 940 odd departures last year…— Roy Douglas, CEO - ADvTECH
ADvTECH reported subdued growth in South Africa for half-year to 30 June 2019, blaming emigration and the weak economy.
The company reported a 15% rise in revenue (to R2.5 billion).
Operating profit before interest and non-trading items are up 6% (to R428 million).
Operating profit for its South African schools increased by 2% (to R175 million).
Headline earnings per share rose 28% (to 43.4 cents).
Normalised earnings grew 8% (to R229 million).
ADvTECH declared a15 cents per share interim dividend.
Listen to the interview in the audio below (and scroll down for more quotes from it).
There is still growth in private education… but consumers are forced to examine alternatives…— Roy Douglas, CEO - ADvTECH
Demand used to exceed supply… now your application is likely to be successful…— Roy Douglas, CEO - ADvTECH
We’re encouraged by our performance in the rest of Africa.— Roy Douglas, CEO - ADvTECH
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
The company is compelling CEO Ian Moir to move to Australia to fix things. Bruce Whitfield interviews him.
The Money Show’s Bruce Whitfield interviews Anoosh Rooplal, the liquidator at VBS Mutual Bank.
Consumers delay purchases, trade down to cheaper vehicles or buy used. Bruce Whitfield interviews Osman Arbee, CEO at Motus.
SA Express is in trouble. If it goes bust, taxpayers will save billions. Bruce Whitfield talks to Guy Leitch (SA Flyer Magazine).
Have a credit card with FNB? You may want to check this out, warns consumer journalist Wendy Knowler.
Gavin Watson knew a lot. But now the story that shook SA and the ANC to its core will never be complete, says Adriaan Basson.
An elderly woman is believed to have collapsed when she was confirmed dead outside a Pimville Post Office in Johannesburg.
Eyewitness News reporter Kevin Brandt says some recipients turned back on Monday, saying they would try again the next day.
Stellenbosch University professor of agricultural economics professor Johann Kirsten looks at who should benefit from this money.
Joanne Joseph spoke to psychiatrist Dr Claire Lownie about the pro-bono offering.
Eyewitness News reporter Theto Mahlakoane gives details of what the community members saw when the man was killed.
Wits University clinical pharmacologist Dr Mohamed Irhuma says people must spend less time on social media.
Gushwell Brooks speaks to business partner Ben Bierman about how these funds will be administered.
Bemawu has accused the SABC of endangering the lives of employees.
Social development minister says they are also keeping in touch with other provinces where there seems to be challenges.
Bhekisisa Centre for Health Journalism journalist Joan van Dyk says it is an emotional job to be a tracer.