SecureData returns to profitability
SecureData, which operates in the information security field‚ has reported a recovery in operations for the twelve months ended July 2013, following a successful restructuring of the business.
The group improved its revenue R290 million, from R222 million in 2012, with a headline earnings per share of 1.1 cents, from a prior headline loss of 15.2 cents.
Group earnings before interest, taxation, depreciation and amortisation (ebitda) from continued operations showed a small return to profitability to R0.039 million, from a prior loss of R45 million.
SecureData did report a loss from operations of R3. million, but from a loss of R49 million in 2012.
“The increase in revenue is due to focusing on the generation of new business in partnership with our channel resellers,” SecureData said.
Between May 2012 and the date of approval of these results, the group underwent extensive restructuring and a major overhaul of its leadership team.
Group headcount was reduced from 140 to 104, while certain products and services were discontinued, and other new ones introduced. “Experienced senior personnel were hired to strengthen the team,” SecureData said.
Looking ahead, the group said that it expects to maintain the present rate of growth in SecureData Africa. “The changes to our team and to our structures and focus areas were implemented steadily throughout the past financial year.
“We have started the new year with these improved teams and structures. We have also started the new year with favourable changes to our product mix,” it said.
“We also expect to maintain the present more modest rate of growth in SensePost as we take advantage of the market´s demand for highly technical expertise and training.”
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