Pinnacle lifts interim earnings
Pinnacle Technology Holdings has reported a marginal (1%) lift in group revenue for the six months ended December 2013 to R3.16 billion, while gross profit increased by 6% on improved margins of 16.3%.
Operating profit before interest advanced to R223.8 million, from R219.5 million in 2012, while fully diluted headline earnings per share improved to 95.4 cents, from 93.8 cents before.
Looking ahead, Pinnacle said that the overall economy faces challenging times ahead, with the consumer becoming more financially constrained than ever and the resources sector, bedeviled by labour and demand issues.
“Nonetheless, the IT sector has remained resilient in the face of these and other economic challenges and it is envisaged that it will continue to remain reasonably so.”
The group said that it anticipates that the investment into Datacentrix will deliver the group enhanced returns in the years ahead.
In June, 2013, Pinnacle Technology entered into an agreement with co-ordinated network investments and Hoolican Investments to acquire 29.79% of the issued ordinary share capital of listed ICT company, Datacentrix, for R237 million.
“The efforts of the group to expand its offerings into the rest of Africa is paying off, with year on year revenue growth into the region of 46%,” it said.
Infrasol is expanding its services offering and is seeing increased traction, while Centrafin, Pinnacle´s finance subsidiary, continues to enable transactions to take place within
the group, Pinnacle said.
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