Compu-Clearing reports interim growth

Listed IT group Compu-Clearing Outsourcing has reported a 6% growth in revenue to R32.9 million, for the six months ending December 2012.

Operating profit improved modestly to R7.45 million, from R7.054 million, while the group reported diluted headline earnings per share of 14.2 cents, from 12.2 cents in 2011.

Compu-Clearing provides IT services and products to the customs clearing and freight forwarding industries.

The group said its core revenue is transaction-based and directly linked to customer import and export volumes.

Other revenue segments comprise hardware rental and the distribution of a globally leading third party freight management solution, ediEnterprise.

Revenue growth in the group’s core software rental segment was modest – a reflection of the small increase in bill of entry volumes compared to the previous period, it said.

“Although still small, the ediEnterprise division continues to make promising strides.

“Staff costs were the main contributor to a 6% increase in operating costs. The headcount increased slightly as part of an expanded focus on quality control,” the group said.

Looking ahead, Compu-Clearing said its core segments traditionally have a stronger second half. In addition, the ediEnterprise segment continues to grow with further implementations expected to go live in the second half of the 2013 financial year.

“Management continue to monitor costs and maintain operating margins at acceptable levels,” it said.

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Compu-Clearing reports interim growth