EOH profit climbs 34%
Technology services provider, EOH, on Wednesday reported a 31% rise in revenue to R12.762 billion for the year ended July 2016, while profit after tax is up by 34% to R930 million.
Earnings per share (EPS) and headline earnings per share (HEPS) increased by 25% and 25% respectively.
Cash has increased by 17% to R1.95 billion, placing EOH in a strong financial position, with substantial cash resources to ensure sustainable future growth. The dividend increased by 23% to 185 cents.
EOH has a wide range of IT services, software, IT infrastructure, industrial technologies and business process outsourcing (BPO) solutions. EOH’s 12,000 staff members deliver these services to over 5,000 large enterprise customers across all major industries and has 134 points of presence in South Africa.
EOH operates in 31 countries in Africa and the Middle East.
In brief:
- Revenue increased by 31% to R12 762 million (2015: R9 734 million)
- Profit after tax increased by 34% to R930 million (2015: R692 million)
- Headline earnings per share (HEPS) up 25% to 719 cents (2015: 575 cents)
- Cash increased by 17% to R1 949 million (2015: R1 664 million).
- Dividend up 23% to 185 cents.
“Driven by our design, build and operate approach, we are able to provide end-to-end solutions across industry verticals. EOH has the widest offerings in our industry,” said CEO Asher Bohbot.
Revenue derived from services increased by 32% and accounts for 77% of total revenue.
All segments of EOH offerings have shown substantial growth. Revenue from IT services increased by 26%, software revenue increased by 39%, industrial technology by 37%, BPO by 39% and IT infrastructure by 7%.
“EOH future growth strategy will be based on both organic and inorganic expansion. EOH plans to add new products and services, continue its aggressive expansion into Africa and the Middle East and will further grow the distribution of its own niche software products internationally,” said Bohbot.
More on EOH
EOH acquires tech firm Aptronics for R194 million
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