ADvTECH Group, the South African education company that owns Makini Schools, Crawford International and Rosebank College, posted a profit after tax of R726.2 million (about Sh5.81 billion) for the six months ended June 2026, supported by higher student enrolment, fee increases and improved collections.
The group’s revenue rose 8.0 percent to R5.06 billion (Sh40.48 billion), while operating profit increased 13.5 percent to R1.11 billion (Sh8.92 billion). This lifted the operating margin to 22 percent, up from 21 percent in the comparable period.
Headline earnings climbed 15.9 percent to R716.5 million (Sh5.73 billion), with headline earnings per share rising 16.1 percent to 130.8 South African cents.
Student numbers remained a key driver of growth. Total enrolment, measured in February, increased 12.8 percent to 119,197, with tertiary students rising 19 percent to 71,467. Enrolment across the group’s schools in the rest of Africa rose 13.9 percent to 13,161.
ADvTECH’s Rest of Africa schools division, which includes operations in Kenya, Botswana and Ethiopia, recorded an 8.0 percent increase in revenue to R303.1 million (Sh2.42 billion).
Operating profit rose 10.7 percent to R91.3 million (Sh730.4 million), pushing the division’s operating margin to 30.1 percent from 29.4 percent.
The company said that the figures represent the combined Rest of Africa division and do not constitute standalone financial results for Makini Schools.
ADvTECH said all schools in the division recorded strong growth in local currencies, although the appreciation of the South African rand moderated the growth reported in the group’s financial statements.
The division also benefited from increased enrolment and the integration of Regis Runda, which ADvTECH acquired in September 2025 before incorporating the school into the Makini brand.
“The group’s strong financial performance, solid cash generation and robust balance sheet are evidence of our sound business model, clear market focus and continued emphasis on efficiencies,” said Aunyana Moloisane, the group’s new business development executive, in the financial presentation.
The group is undertaking several investments in its Kenyan schools as it seeks to expand capacity and strengthen its academic offering.
At Makini Runda, ADvTECH is upgrading facilities, information and communication technology infrastructure and academic-support systems. The campus will also gain access to the group’s AI-powered Advlearn platform.
The school is scheduled to introduce the Cambridge International curriculum in September 2026 after receiving the necessary approval.
ADvTECH is also redeveloping Makini State House following the securing of a new lease for the Nairobi campus.
The project, which includes facility upgrades and an expansion of student capacity, is expected to be completed by December 2026.
Elsewhere in the group, the tertiary education business continued to post strong growth, with revenue increasing 17.3 percent to R2.24 billion (Sh17.94 billion). Operating profit in the division rose 19.4 percent to R591.7 million (Sh4.73 billion).
The group’s resourcing business, however, recorded a 14.7 percent decline in revenue to R655.8 million (Sh5.25 billion), partly due to the continuing effects of the closure of the United States Agency for International Development (USAID) on its African recruitment operations.
ADvTECH said its improved collection processes helped strengthen its debtor position during the period.
Gross trade receivables increased 5.0 percent, below the rate of revenue growth, while credit losses declined 3.3 percent to R115.4 million (Sh923.2 million).
Cash generation also strengthened, with free operating cash flow before capital expenditure rising 17.8 percent to R2.26 billion (Sh18.05 billion).
The education group increased capital expenditure to R404 million (Sh3.23 billion), while capital commitments more than doubled to R3.27 billion (Sh26.17 billion), reflecting planned investments in additional capacity and campus development.
ADvTECH also returned capital to shareholders during the period, repurchasing shares worth R326.3 million (Sh2.61 billion).
The board declared an interim dividend of 53 South African cents, equivalent to about Sh4.24 per share, representing an increase of 17.8 percent.
After the reporting period, ADvTECH acquired a 25 percent stake in education technology company MathU Teaching Emporium for R15.8 million (Sh126.4 million).
The transaction was completed after the half-year reporting date and is therefore not reflected in the unaudited first-half financial statements.
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