{"id":16252,"date":"2012-06-22T14:29:47","date_gmt":"2012-06-22T12:29:47","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=16252"},"modified":"2012-06-25T11:07:23","modified_gmt":"2012-06-25T09:07:23","slug":"jasco-close-to-head-office-disposal","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/16252\/jasco-close-to-head-office-disposal\/","title":{"rendered":"Jasco close to head-office disposal"},"content":{"rendered":"

JSE<\/a>-listed technology group, Jasco Electronics Holdings<\/a> says it is close to the disposal of its head-office property in Midrand, Gauteng.<\/p>\n

\u2018Shareholders are advised that the company is in advanced stages of negotiations regarding the proposed disposal of the Midrand Property, which if successfully concluded may have a material effect on the price of the company’s securities,\u201d it said in a statement on Friday (22 June).<\/p>\n

In February, Jasco highlighted the benefits of a restructuring programme along with the integration of ICT group, Spescom for a 55% rise in H1 revenue.<\/p>\n

CEO of Jasco, Pete da Silva<\/a> told Moneyweb: \u201cWe’ve taken our layers of management. We’ve taken people out, like big time. \u2026 If a business is not sustainable at a certain level we’ve merged it into others, and we’ve taken out CEO levels, CFO levels, and just in this lot here I think it was about a R1.2 million cost. And that\u2019s going to bear fruit going forward. When we bought Spescom we landed up with a building of 6,000 square metres in the heart of Midrand, which 30% utilised.<\/p>\n

The group reported headline earnings per share of 6.9 cents for the six months ended December 2011, from 3.5 cents previously.<\/p>\n

Revenue climbed to R493.9 million, while operating profit increased 30% to R20.6 million, on the back of an improvement in the group\u2019s largest contributor, the ICT Solutions vertical.<\/p>\n

\u201cI am very pleased with these results. Its clearly down to the successful integration of Jasco and Spescom,\u201d said CEO Pete da Silva at a presentation at the JSE in Sandton, before stressing the need to diversify.<\/p>\n

\u201cWe are primarily an ICT group. We\u2019ve got diversify in terms of our products and services,\u201d he said alluding to opportunities in its energy solutions and power optimisation arms.\u201d<\/p>\n

Da Silva said Jasco would concentrate on its co-location and data centre operations within its carrier business, with an aim to attract new customers while the same focus would apply for M-TEC Telecommunications.<\/p>\n

The CEO added that Jasco would also target growth for its VOIP<\/a> business.<\/p>\n

Related Article<\/strong><\/p>\n

Jasco H1 HEPS 6.9c vs 3.5c<\/a><\/strong><\/p>\n

Jasco boosted by Spescom, restructure<\/a><\/strong><\/p>\n

Jasco opens Congo subsidiary<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Jasco Electronics says it is close to the disposal of its head-office property in Midrand, Gauteng.<\/p>\n","protected":false},"author":9,"featured_media":5493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[26,767,3274,1340,1339,1707],"class_list":["post-16252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-headline","tag-ict","tag-jasco-electronics-holdings","tag-pete-da-silva","tag-spescom","tag-voip"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/16252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=16252"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/16252\/revisions"}],"predecessor-version":[{"id":16254,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/16252\/revisions\/16254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5493"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=16252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=16252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=16252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}