“ADvTECH remains uniquely positioned to benefit from the continued growth in demand for quality education in both South Africa and the rest of Africa.” – Roy Douglas, CEO of ADvTECH.
ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
JSE code: ADH ISIN: ZAE000031035
(“ADvTECH” or “the group”)
TRADING STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, an issuer is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next reporting period will show a 20% or more difference from that of the previous corresponding period.
The group reports normalised earnings per share ("NEPS") as a way of excluding the effect of one-off transactions and corporate action costs from its results.
Basic NEPS for the year ended 31 December 2022 is expected to be between 17% and 22% higher than the comparative reporting period for the year ended 31 December 2021 ("the comparative period") or between 142.2 and 148.2 cents per share as compared to 121.5 cents per share in the comparative period.
Basic Headline earnings per share is expected to be between 18% and 23% higher than the comparative period or between 143.5 and 149.6 cents per share as compared to 121.6 cents per share in the comparative period.
Basic Earnings per share ("EPS") for the year ended 31 December 2022 is expected to be between 18% and 23% higher than the comparative period or between 145.3 and 151.4 cents per share as compared to 123.1 cents per share for the comparative period.
All divisions delivered meaningful growth and contributed to this strong performance by the group.
The financial information on which this trading update is based has not been reviewed or audited by the group’s external auditors.
ADvTECH expects to release results for the year ended 31 December 2022 on the JSE’s Stock Exchange News Service on or about Monday, 27 March 2023.
16 March 2023
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited