Morvest, a listed provider of\u00a0ICT and outsourcing\u00a0solutions on Wednesday (28 August) announced a 10.1% rise in revenue\u00a0for the year ended May 2013,\u00a0to R956.1 million.<\/p>\n
Earnings before interest, impairment,\u00a0tax, depreciation and amortisation, rose to R141.52 million, from R112.08 million, with diluted headline earnings per share of 8.20 cents, from 5.41 cents in 2012.<\/p>\n
The board declared a final gross cash dividend of 1 cent per share.<\/p>\n
Morvest said its\u00a0South African and Nigerian markets were challenging in the year, notwithstanding some early signs of recovery. “Nonetheless the group\u00b4s\u00a0domestic operations performed well with reasonable improvements in margin.”<\/p>\n
96% of the group’s revenue was generated in South Africa.<\/p>\n
Looking ahead, Morvest said it\u00a0continues to see the next 12\u00a0to 18 months as “tough”.<\/p>\n
“Expansion further into Africa and internationally is a key strategic\u00a0objective for the next 12 to 18 months, as significant growth opportunities\u00a0in the emerging markets primarily in outsourcing; ICT; resourcing; training\u00a0and education could offer an attractive counter to anticipated difficult\u00a0conditions locally,” it said.<\/p>\n
Morvest says it has a staff complement of over 2,000, and an international footprint in Africa (Nigeria, Mozambique), India and the USA.<\/p>\n
Morvest to continue African safari<\/strong><\/a><\/p>\n IT services a mixed bag in 2012 \u2013 analyst<\/strong><\/a><\/p>\n