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Advtech lifts profit, dividend

Johannesburg - Education, training, skills development and placement services provider Advtech [JSE:ADH] on Monday announced diluted headline earnings per share of 20c  for the six months ended June, from 18.2c previously.

It noted diluted earnings per share of 19.9c, from 18.2c.

Revenue climbed 7% to R791m from R740.2m. Operating profit grew by 10% to R110m.

The group said that improved earnings and cash flow, together with the very strong financial position, enabled the board to declare an interim dividend of 9.5c from eight cents in 2010

It said that all key group indicators were positive. "These results reflect effective management action in a continuing difficult economy, especially on the employment front, where job losses continue. The education division returned to solid growth while the resourcing division struggled under the impact of a difficult jobs market."

The group plans a 22% increase in capital expenditure and capital commitments for the remainder of the year of more than R100m. These would include the building of the new Trinityhouse school in Little Falls which would be open for the first intake of students in January 2012.
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