Business News 22.8.2016 10:54 am

Booming Advtech holds on to profits to fund more growth

Photo: Shutterstock

Photo: Shutterstock

Headline earnings per share were up by 48%, from 24.6 cents to 36.5 cents.

Advtech on Monday recorded a 33% increase in trading operating profit on revenues that were up by 28% for the six months to the end of June but held back from making a large dividend payout.

Headline earnings per share were up by 48%, from 24.6 cents to 36.5 cents, but the fast-growing private education company held back from making a big payout to shareholders because “the group’s expansion plans that will continue to roll out over the next few years require significant funding”.

The interim dividend was 13.5 cents, up from 12.5 cents in the corresponding period last year.

– African News Agency (ANA)

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