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Among the plethora of private school brands that have emerged in South Africa in recent years, just two have listed on the JSE: Curro Holdings and Advtech. Both have entrenched their positions with expanded infrastructure, increased pupil numbers and improved revenue. Having listed on the local bourse in 2011, Curro dominates the sector with a compound annual growth rate of 48% and a market cap of more than R20-billion. The company, which is 52% owned by the PSG Group, nearly doubled the number of schools it had from 61 in 2012 to 110 last year, registering some 41393 children in its primary and high schools. Last year the number of pupils registered rose 15% from the year before, despite school fees increasing by 9.9% on average. Curro's smaller rival, Advtech, whose share price has risen more than 180% over the past five years, now owns 81 schools, including those in the Abbotts College and Crawford Schools stables. The value of the expansion is evident in Advtech's latest interim...

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