Jasco lifts full-year revenue by 28%
Jasco Electronics has reported a rise in diluted headline earnings per share to 16.8 cents for the year ended June 2012 from 14.0 cents a year ago.
Revenue was 28.1% higher at R990 million‚ while operating profit before interest and tax grew 8.4% to R31.2 million‚ mainly due to the growth in turnover. Profit for the year was 47.9% to R20.0 million.
A final dividend of three cents per share was declared.
The company said a number of cost efficiencies were somewhat offset by costs associated with the repositioning of the Jasco brand and structure to ensure increased customer penetration‚ as well as once-off retrenchment costs in the ICT Solutions vertical during the second half.
Headline earnings of R23.7 million increased by 38% and headline earnings per share (HEPS) was up 20% to 16.8 cents per share.
Looking ahead‚ the group said its focus on M-TEC over the last 12 months resulted in a significant improvement. However‚ management will focus on working towards operational control and continued improved performance.
In the ICT Carrier segment the group expects to continue its growth drive.
Initial results are pleasing‚ it said‚ with new customers joining the Jasco fold. In the ICT Enterprise segment the group further anticipates corporate South Africa to increase its spend in the upgrade of the technology in IT and communications infrastructure.
Industry Solutions will continue on its path of growing fire solutions organically and exploiting its new power business through the Ferrotech acquisition. Furthermore‚ a trend towards energy management is evident and Jasco is well poised to take advantage of this.
In Energy Solutions the group anticipates continued government infrastructure spend. This‚ together with the state-owned enterprises localisation programme‚ will bode well for M-TECs energy portfolio.
In addition‚ the group has established Jasco Transmission & Distribution to ensure a larger basket of energy products and solutions to its customers and to drive direct interaction with municipal customers.
The simplification of the Jasco group‚ with the associated cost reduction‚ will continue. The deregistration of statutory legal entities that become superfluous will continue into the new year‚ resulting in a focused Jasco that is fit for purpose, the group said.
Finally‚ the second phase of the group’s strategy implementation is well underway. This will ensure that Jasco continues to commit to customer centricity and best-in-class business processes, it said.
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