{"id":355863,"date":"2019-11-21T08:04:48","date_gmt":"2019-11-21T06:04:48","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=355863"},"modified":"2019-11-21T08:04:48","modified_gmt":"2019-11-21T06:04:48","slug":"huge-group-delivers-earnings-growth","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/355863\/huge-group-delivers-earnings-growth\/","title":{"rendered":"Huge Group delivers earnings growth"},"content":{"rendered":"<p>Huge Group on Thursday (21 November) reported a 14% rise in revenue to R245 million in interim results for the six months ended August 2019.<\/p>\n<p>The Telecom Grouping enjoyed a 17% increase in revenue, mainly as a result of the Otel Business Combination and the Pansmart Business Combination.<\/p>\n<p>The Fintech Grouping enjoyed a 9% increase in revenue. The awarding by Standard Bank of a contract for the provision of payment connectivity services is in the process of being implemented and is expected to contribute meaningfully to revenue growth in the future, Huge Group said.<\/p>\n<p>Financial highlights relating to the interim results:<\/p>\n<ul>\n<li>Total revenue increased by 14% from R215 million to R245 million<\/li>\n<li>Gross profit increased by 43% from R126 million to R180 million<\/li>\n<li>Operating profit increased by 6% from R68 million to R72 million<\/li>\n<li>EBITDA increased by 19% from R80 million to R95 million<\/li>\n<li>Basic earnings per share increased by 3.4% from 28.46 cents per share to 29.43 cents per share<\/li>\n<li>Normalised basic earnings per share increased by 50%<\/li>\n<li>Headline earnings per share increased by 2.5% from 28.50 cents per share to 29.21 cents per share<\/li>\n<li>Normalised headline earnings per shares increased by 48%<\/li>\n<\/ul>\n<p>The board declared a gross cash dividend of 6.25 cents per ordinary share as an interim dividend.<\/p>\n<p>&#8220;Huge Group has made significant strides during the past six months. We have built some of the capacity that we need to deliver our \u2018Growing Huge Strategy\u2019.<\/p>\n<p>&#8220;The results have been very encouraging and bode well for the delivery of faster and more meaningful outcomes. Our structures have been fortified to deliver our expectations,&#8221; said chief executive officer, James Herbst.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/telecommunications\/292558\/andrew-openshaw-joins-huge-group-as-coo\/\" target=\"_blank\" rel=\"noopener noreferrer\">Andrew Openshaw joins Huge Group as COO<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Huge Group on Thursday (21 November) reported a 14% rise in revenue to R245 million in interim results for the six months ended August 2019.<\/p>\n","protected":false},"author":10,"featured_media":244061,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[26,2258],"class_list":["post-355863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-headline","tag-huge-group"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/355863","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=355863"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/355863\/revisions"}],"predecessor-version":[{"id":355881,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/355863\/revisions\/355881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/244061"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=355863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=355863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=355863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}