EOH full-year revenue surges 42%

Listed IT services and outsourcing firm, EOH on Wednesday (17 September), reported a 42% rise in revenue for the year ended July 2014, to R7.2 billion.

The growth, it said, is attributable to a combination of both organic growth and recent acquisitions.

Profit for the year improved 48.5% to R492 million, with headline earnings per share (HEPS) up 32% to 446,6 cents.

Operating profit before interest and impairments was up to R719.5 million, from R495.7 million in 2013.

EOH declared a gross dividend of 120 cents, from 95 cents before.

EOH has a presence in 134 locations in South Africa, 29 African countries and the UK, employing 8,000 people providing end to end solutions for over 2,000 enterprise clients in all major industries.

All areas of EOH’s business operations reported strong growth during the period under review, with a further shift to services in line with EOH’s strategic intent.

Services revenue increased to R5.5 billion, up 51.7% over the previous corresponding period, while software sales increased 7.3% to R737 million. The revenue from infrastructure sales increased by 27.2% to R982 million.

“EOH’s success is largely attributable to its unfailing business philosophy that is centred around people,” said CEO Asher Bohbot.

“We have always strived to attract, develop and retain the best people in the industry with the purpose of creating life-long, mutually beneficial partnerships with our customers and partners.  Doing things right first time epitomises the philosophy of EOH,” he said.

Looking ahead, EOH said it will continue to grow aggressively both organicically, but also complemented by strategic acquisitions.

Growth will be focused on Information Technology outsourcing and processes, Information Management, Analytics and Digitalisation. Industry technology will be another major growth area for EOH.

The group said it sees public sector involvement as both a responsibility and a business opportunity.

EOH plans to increase its in-country presence by increasing its service offerings and through partnerships, joint ventures and acquisitions.

The group will begin distributing its own niche IP software products internationally.

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EOH full-year revenue surges 42%