Business intelligence company PBT Group said Friday that it aims to position itself as a leading data and analytics company.
Reporting results for the six months ended September 2018, PBT Group said that total revenue from continuing operations for the period was R281 million (September 2017: R283.5 million) with profit before tax for continuing operations being R13.8 million (September 2017: R11.6 million).
The total profit after tax for continuing operations was R7.2 million (September 2017: loss of R1.6 million).
During the period under review, PBT Group finalised and implemented the disposal of two non-core assets, i.e. Prescient Capital and equity shares in Prescient Holdings. Accordingly, this has been accounted for as discontinued operations in the financial statements.
PBT Group said that operating expenses increased over the period mainly as a result of large once-off expenditures relating to the expansion into Europe and resultant setup costs. Due to internal restructuring some expenses were reallocated from cost of sales to operating expenses during the period.
Headline earnings per share (HEPS) was 0.23 cents per share, versus a prior loss of 0.33 cents per share.
South African market
Despite a challenging South African economy, the phasing out of the MEA business unit and adopting new learnings, all in the same period under review, PBT Group has positioned itself well for the future, the company said.
As a direct result of successful PoC’s in Europe, projects have been secured on the three major cloud platforms, namely Google Cloud Platform (GCP), Microsoft Azure and Amazon Web Services (AWS), whilst we are also at the forefront with regards to Visualisation trends, it said.
PBT Group said that its local business is involved in two major initiatives. “The cognitive project at one of the leading financial institutions in South Africa is a stepping stone to strategically position ourselves as the leading data and analytics company, not only in South Africa, but potentially in Europe as well.
“The open source technology applied in this project is in high demand worldwide across industries.”
Another project of importance is the renewal project in partnership with one of the leading global business consulting and audit firms, it said.
“The technology used in this instance broadens our industry scope to manufacturing, an industry with considerable AI possibilities. The reskilling of the existing PBT Group consulting base will inevitably require capital investment to adopt to new data trends. Our more traditional business remains stable and in demand and should remain as such for the foreseeable future.”
PBT Group said that the capacity model for Europe is taking shape, which will not only create foreign revenue, but also opportunity to apply experience vice versa, as well as the prospect for consultants to work abroad. “Altogether, a period full of action, with a foundation having been laid for a new wave and exciting time ahead,” it said.