EOH interim earnings boosted by aquistions

Listed IT services firm EOH Holdings has attributed a 45.5% rise in interim earnings to a combination of both organic growth and recent acquisitions.

On Tuesday (12 March), EOH reported a lift in revenue for the six months ended January 2013, to R2.39 billion, from R1.64 billion before.

Profit for the period grew to R163.53 million, up 53.5% from R106.52 million in 2011.

Diluted headline earnings per share of 155.3 cents was 39.3% better than 111.5 cents in the prior reporting period.

EOH is a provider of enterprise applications, technology, outsourcing, cloud and
managed service solutions.

“All areas of EOH’s business operations have seen growth during the period under review with the revenue from services being the most significant revenue generator,” EOH said.

Services revenue increased to R1.66 billion, up 61.7%  over the previous period, while software sales rose 32.7% to R350.6 million. Infrastructure sales improved
by 7.7% to R378.3 million.

During the six months under review, EOH said its acquisitive strategy was to consolidate and complement its existing service offerings in its consulting, managed services, human capital and industrial technology businesses and to grow its public sector business.

Accordingly, the group made several acquisitions including Siemens IT Solutions and Services South Africa, a company offering IT services primarily to the public sector.

Looking ahead, EOH said it will continue to expand its solutions and service offerings and strengthen its industry verticals. “This will be achieved through both organic and acquisitive growth. The main areas of growth include managed services, cloud offerings, enterprise applications, information management, business process outsourcing, security solutions and industrial and infrastructure solutions.”

EOH noted that it has expanded its activities in the public sector.

“EOH views Africa as a growth area and will continue to pursue opportunities in identified countries. EOH is well positioned to continue to grow aggressively. It has the people, financial resources, agility and know-how to continue to grow all areas of its business and to expand into new services and territories,” it said.

More on EOH

EOH points to stronger earnings

Name change causes govt IT headache

“More of the same” for impressive EOH

EOH boosts revenue, ups dividend

EOH buys Siemens subsidiary

Must Read

Partner Content

Show comments

Trending Now

Follow Us

EOH interim earnings boosted by aquistions