EOH reports massive jump in profits

Listed ICT firm, EOH has reported a massive jump in earnings for the year ended 31 July 2015.

The group recorded profits after tax of R692 million, up 41% from R492 million in 2014.

Revenue increased by 35% to R9.734 billion (2014: R7.220 billion), while headline earnings per share (HEPS) were up 29% to 575 cents.

The group increased its dividend by 25% to 150 cents.

During the year under review, EOH embarked on growing its international IP software business and its service offerings in the financial services, telecommunications, energy and local government sectors.

It also expanded its activities in Africa by joining forces with Twenty Third Century Solutions.

EOH also acquired the businesses of Construction Computer Software Proprietary Limited, Managed Integrity Evaluation Proprietary Limited and Afiswitch Proprietary Limited and several smaller businesses.

The groups said it will continue with its strategy to consolidate and complement its existing services with strategic acquisitions.

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EOH reports massive jump in profits