Compu-Clearing ups profit and dividend

Compu-Clearing Outsourcing has on Wednesday (5 September) announced a 34% rise in operating profit to R13.898 million for the year ended June 2012, from R10.38 million before.

The group noted diluted headline earnings per share of 24.7 cents, from 18.5 cents in 2011.

Revenue improved to R63.3 million, from R55.5 million, while the group declared an ordinary cash dividend of 25 cents per share, versus 18 cents in 2011.

The firm provides IT products and services to the customs clearing, freight forwarding, air cargo and related industries

“The primary contributors to the increase in revenue were higher volumes at existing clients and an increase in Edi Enterprise revenues, resulting from successful implementations at new customers,” Compu-Clearing said.

Increased Edi Enterprise revenues also made a positive contribution of R800,000 (2011: a R2.2 million loss).

The group said that cash generation remains strong with cash generated by operations amounting to 119% (2011: 139%) of operating profit.

Looking ahead, Compu-Clearing said that the strong second half performance from core activities had continued into the new year.

“The Edi Enterprise division is gaining momentum with three new implementations commencing towards the end of the financial year. Five further installations are already scheduled for the new financial year,” it said.

“Management continue to focus on maintaining the operating margin at a satisfactory level.”

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Compu-Clearing ups profit and dividend