South African recruitment firm ADvTech (ADH: SJ) provided a trading statement for the half year ended 30 June 2017.

The group advised shareholders that, with reasonable certainty, that normalised earnings per share (‘NEPS’) for the half year ended 30 June 2017 will be between 20% and 25% higher than the comparative reporting period for the half year ended 30 June 2016. NEPS is expected to be between 38.3 cents and 39.9 cents per share as compared to 31.9 cents per share for the comparative period.

The group also stated that settlement of litigation matter disclosed in the Company's 2016 Integrated Annual Report contributed to a one-off increase in the results for the comparative period. This aspect together with other corporate action costs, which are excluded from NEPS, will result in both basic earnings per share ("EPS") and headline earnings per share ("HEPS") being between 4% and 7% higher than for the comparative period.

Last year, ADvTech reported revenue for the year ending 31 December 2016 of ZAR 3.3 billion (USD 265.5 million). The company earns most of its revenue through two separate education divisions, Schools and Tertiary. 

Earlier this year ADvTech acquired Cape Town- based Elkanah House schools. The group also acquired a 51% stake in the University of Africa in January 2017.

ADvTECH expects to release results for the half year ended 30 June 2017 on the Johannesburg Stock Exchange News Service on 21 August 2017.

As of last trade, Advtech Ltd traded at ZAR 1,727.00 (USD 129.71), up 3.04% on the day and 13.62% above the 52 week low of ZAR 1,520.00 (USD 114.17) set on 13 December 2016. Based on its current share price the company has a market value of ZAR 9.12 billion (USD 685.5 million).