JOHANNESBURG: South African private education group Advtech reported a 28 percent increase in revenue and a 48 percent surge in first-half profit on Monday, boosted by recent acquisitions. * Headline earnings, the main profit gauge used in SouthAfrica that strips out some one-off items, increased to 36.5cents per share in the six months to the end of June from 24.6cents per share a year earlier. * The company, which runs 43 campuses, said the results wereboosted by recent acquisitions that included the Maravest groupof schools. * The schools division, which contributes 50 percent ofgroup revenue, increased revenue by 20 percent to 822 millionrand ($60.52 million). * Interim gross dividend of 13.5 cents compared with 12.5 inthe previous year per ordinary share in respect of the half yearended June 30. * Group revenue increased by 28 percent while tradingoperating profit grew by 33 percent indicating continuedoperating margin improvement. * A decrease in financing costs following a rights issue in2015 and a steady effective taxation rate increased tradingprofit after taxation by 54 percent to 161 million rand.
FTO makes online hearings default for tax complaints
LAHORE: The Federal Tax Ombudsman (FTO) has made online hearings the default mode for resolving tax complaints at its headquarters...
