Varsities gain ground
For the first time, private colleges are bringing in a greater share of AdvTech’s operating profit than its popular independent school franchises
The rapid rollout of private schools in SA over the past eight years, mainly by PSG-controlled Curro Holdings, has overshadowed the progress made in the development of a private tertiary network to rival public universities and technical institutions.But a recent investment presentation by private education conglomerate AdvTech — best known for its school brands Crawford Schools, Trinityhouse and Abbotts College — shows that its tertiary division is now its main profit hub.For the year to end-December, AdvTech reported a sprightly 25% growth in tertiary revenue to about R2.15bn, with 13% enrolment growth for the 2020 academic year.AdvTech’s tertiary hub is centred on the Independent Institute of Education (IIE), with Varsity College and Rosebank College the main brands. The division also hosts IIE MSA, the Vega School and distance learning specialist Oxbridge Academy as well as hotel and catering training brands.In the past year AdvTech disclosed that 42% of its revenue was generate...
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