ADvTech posts strong earnings for 2016

Advtech in its financial report for the year 2016 said it evenue for the year increased by 24% to ZAR3.353 billion compared to ZAR2.708 billion recorded in the financial year 2015.

The company earnings before interest, taxation, rose by 33% to ZAR740.6 million in contrast to ZAR557.9 million recorded in 2015.

Advtech profit for the year rose by 66% to ZAR372.4 million compared  to ZAR224.9 million recorded in 2015, while headline earnings per share was 39% higher at 71.1 cents per share compared to 51 cents per share in fiscal year 2015.

Consequently,the board announced the declaration of a final gross dividend of 19.0 cents compared to 17.0 cents declared in 2015 per ordinary share in respect of the year ended 31 December 2016. This brings the full year dividend to 32.5 cents  compared to 29.5 cents per share recorded in 2015.

As an outlook, the company said it will continue to see numerous opportunities both at home and abroad. In our core markets we expect organic and greenfield growth to continue despite the fact that competition has increased and difficult economic conditions remain.

“We are also excited by opportunities available in new market segments and through new product offerings. In addition, our investigations into new regions is providing us with even more opportunities and this, we believe, will enhance our business performance and diversify our portfolio”, the statement said.

The company made several acquisition this year into its portfolio. The company recently acquired over 51% of University of Africa.

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