EOH sees massive jump in earnings

Listed ICT services provider EOH has reported a 40% rise in revenue for the six months ended 31 January 2015.

The company reported total revenue of R4.61 billion for the period, up from R3.3 billion the year before, though it was down from the R7.2 billion reported in the previous 6 month period.

Gross profits were up from R1.27 billion in 2014 to R1.6 billion in 2015, while profit after tax were sitting 37.7% higher, at R340 million.

Earnings per share increased by 26,3% and headline earnings per share increased by 26,4% with cash increasing to R1.46 billion.

The company attributed its strong growth to a combination of strong organic growth and its recent acquisitions.

During the period, EOH said it specifically focused on growing its international IP software business and its service offerings in the financial services, telecommunications, energy and local government sectors.

EOH also expanded its activities in Africa.

During the period, EOH acquired the businesses of Construction Computer Software, Managed Integrity Evaluation, Afiswitch, and several smaller businesses.

Organic growth accounted for 73% of revenue growth and contributed 69% of the growth in profit before tax, it said.

EOH said it is in a strong financial position and has sufficient cash resources to ensure sustainable future growth.

Specifically, the group will continue to push aggressive growth in all sectors. It plans to introduce new lines of business and drive organic growth through more “strategic acquisitions”.

More on EOH

EOH full-year revenue surges 42%

EOH lifts earnings by 40%

EOH acquires software firm Sybrin

EOH interim earnings boosted by aquistions

Must Read

Partner Content

Show comments

Trending Now

Follow Us

EOH sees massive jump in earnings