FoneWorx revenue hits new high

·18 Sep 2014

FoneWorx has reported record annual revenue for the year ended June 2014, up 10% to R118.2 million.

The group provides interactive telecommunication, switching and business services, orientated around fixed and mobile networks.

FoneWorx said the increase can once again be attributed to the MediaWorx division
which saw a 35.9% increase in revenue from R42.4 million to R57.7 million amid
increased sales.

Earnings before interest, taxation, depreciation and amortisation increased by 10.1% to R38 million, while headline earning per share increased by 10.3% to 20.21 cents from 18.33 cents before.

Operating proft was 6.4% higher at R33.35 million.

The group declared a gross final dividend of 12 cents for the financial year ended June 2014, unchanged from the prior year.

Looking ahead, FoneWorx said that in order to facilitate the deployment of Knowledge 350′ the board has decided to seek and acquire equity positions in profitable companies that offer Knowledge 350′ access to human capital to implement key facets of Knowledge 350′ and simultaneously enhance it’s earnings.

In line with this strategy and during the year under review, the Group acquired 44% in Livingfacts, which offers research and specialist analytics, data processing and
statistical services.

It also acquired 35% in BMi Research Proprietary Limited. BMi is a research house specialising in consumer and industrial research in various sectors, including the retail, wholesale and manufacturing sector.

“Additional acquisitions are being evaluated to complement the various facets of Knowledge 350′ and the group’s changing profile,” FoneWorx said.