SecureData, which operates in the information security field\u201a reported that its headline loss per share for the year ended July had widened from 1.7 cents to 15 cents.<\/p>\n
The group’s net loss from continued operations increased to R47.7 million from a loss of R5.8 million in 2011. The substantial loss at SecureData Africa outweighed profits from SensePost.<\/p>\n
Group ebitda of continued operations declined to a loss of R45 million (2011: profit of R1.6 million) off revenues that decreased to R222.2 million (2011: R228.6 million).<\/p>\n
SecureData said that during the 2012 financial year\u201a the group was completely restructured in order to address operational and management deficiencies that prevented it from performing optimally\u201a particularly in SecureData Africa\u201a and to respond to the challenging environment in the markets in which the group operates.<\/p>\n
\u201cThe restructuring\u201a including the disposal of SecureData Europe\u201a was necessary to strengthen the financial position of the group\u201a reduce costs and refocus the group on its fundamentals. All the long-term debt and bank overdrafts within the group were settled after the disposal of SecureData Europe,”\u00a0the group stated.<\/p>\n
“In SecureData Africa we have gone back to our roots\u201a as an Africa-focused distributor of world-class software in information security\u201a backed by engineers certified in every one of our products. In addition\u201a we provide expert training to assist companies to address the ever-expanding risks in information security,” it added.<\/p>\n
\u201cWe are rebuilding our relationships with the resellers\u201a or retailers\u201a who are the heart of our business as they are the ones who take our products to market. Those relationships had come under strain\u201a and trust is now being restored through a focused programme led by the group chief executive officer.”<\/p>\n
Related article<\/strong><\/p>\n SecureData appoints new financial director<\/strong><\/a><\/p>\n SecureData sees further earnings pain<\/strong><\/a><\/p>\n SecureData appoints new CEO<\/strong><\/a><\/p>\n Misfiring SecureData offloads UK subsidiary<\/strong><\/a><\/p>\n Alarm bells ringing for SA ICT sector?<\/strong><\/a><\/p>\n