Foneworx lifts interim revenue by 32%

FoneWorx, a listed telecoms and IT solutions provider has reported a 32% rise in group revenue  for the six months ended 31 December 2013, to R63.2 million.

The group said that gross profit increased by 22% to R36.5 million, which is partly attributed to a change in payment policy that some network providers had where they now pay full revenue earned through value added services.

Profit before tax increased by 10.5% from R17.2 million to R19 million and profit after tax for the period increased by 10% to R13.4 million.

Headline earnings per share advanced 10%  to 9.88 cents per share.

Staff costs for the period increased 64%to R12.6 million. This is mostly due to the increase in the number of staff by 46% from 52 for the previous corresponding period to 76 people this period, Foneworx said.

“The increase in staff is attributable to the anticipated increase in sales in MediaWorx and the launch of Knowledge 350 degrees. In addition the staff compliment in the FoneWorx Call Centre has been increased by 12 people to cater for Dealfinder, a Caxton online digital product,” the group said.

During the interim period the company also declared and paid a dividend of 12 cents per share relating to the 2013 financial year, up 71% from the dividend declared of 7 cents per share relating to the 2012 financial year.

Looking ahead, Foneworx said that the group remains optimistic about the next six months to its financial year end in June 2014.

“We are very excited about the re-engineered MediaWorx route to market incorporating Knowledge 350 degrees as we believe that `knowledge´ will become the next intellectual property for corporations, specifically as there has been a dramatic move to one-to-one marketing which has been facilitated by the massive roll-out of smart devices enabling consumers to access information that is relevant to them as and when required.”

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Foneworx lifts interim revenue by 32%