Morvest lifts full-year revenue
Morvest, a listed provider of ICT and outsourcing solutions on Wednesday (28 August) announced a 10.1% rise in revenue for the year ended May 2013, to R956.1 million.
Earnings before interest, impairment, tax, depreciation and amortisation, rose to R141.52 million, from R112.08 million, with diluted headline earnings per share of 8.20 cents, from 5.41 cents in 2012.
The board declared a final gross cash dividend of 1 cent per share.
Morvest said its South African and Nigerian markets were challenging in the year, notwithstanding some early signs of recovery. “Nonetheless the group´s domestic operations performed well with reasonable improvements in margin.”
96% of the group’s revenue was generated in South Africa.
Looking ahead, Morvest said it continues to see the next 12 to 18 months as “tough”.
“Expansion further into Africa and internationally is a key strategic objective for the next 12 to 18 months, as significant growth opportunities in the emerging markets primarily in outsourcing; ICT; resourcing; training and education could offer an attractive counter to anticipated difficult conditions locally,” it said.
Morvest says it has a staff complement of over 2,000, and an international footprint in Africa (Nigeria, Mozambique), India and the USA.
More news on Morvest
Morvest to continue African safari
Loading ...