RGT Smart lifts revenue by 16.8%
RGT Smart Market Intelligence announced on Thursday (24 May) a 16.8% rise in revenue to R32.4 million rand for the year ended February 2012.
The investment holding company that currently operates two subsidiaries, Republic Computer Services and RGT Smart Operations, announced a 24.7% increase in profit after tax to R4.12 million.
Headline Earnings per share improved marginally, to 0.84 cents.
RGT provides new vehicles sales data to the SA motor industry and provides a range of analytical products which the motor industry uses in planning, forecasting and marketing. RGT Ops provides consulting support and service quality management and monitoring systems.
As part of a strategy to simplify administration and unify their branding operational companies within the company, RGT Smart Group were amalgamated under one trading company, RGT Smart Operations.
The group said it generated R5.2 million in cash from operations. The sale of treasury shares together with the issue of additional shares generated a further R10 million.
RGT added that loans and other financial liabilities totalling R3.4 million were repaid. The group reflected a positive cash flow of R8.5 million in the period under review.
Looking ahead, RGT said there are no major shifts in strategic direction. “The group is confidently committed to the existing strategy and business model. RGT Smart will continue to play to its strengths – there continues to be scope for growth in the automotive industry.”
It said that a key objective for the coming year is to actively work with Lightstone and other sister companies to generate mutually beneficial turnover through synergies that can be created and exploited. “There are already a number of initiatives being explored in this regard, RGT said.
“In the coming year continued recruitment of top specialists and increased investment in training and development will remain a priority but now that the business is properly structured, streamlined and funded RGT Smart will begin to turn attention to potential acquisitions,” the group said.
Additionally RGT said that its directors are actively exploring opportunities to launch RGT Smart products and services in targeted offshore markets.
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