SecureData, which operates in the information security field\u201a has reported a\u00a0recovery\u00a0in operations\u00a0for the twelve months ended July 2013, following a successful restructuring of the business.<\/p>\n
The group improved its revenue R290 million, from R222 million in 2012, with a headline earnings per share of 1.1 cents, from a prior headline loss of 15.2 cents.<\/p>\n
Group earnings before interest, taxation, depreciation and\u00a0amortisation (ebitda) from continued operations\u00a0showed a small return to profitability\u00a0to R0.039 million, from a prior loss of R45 million.<\/p>\n
SecureData did report a loss from operations of R3. million, but from a loss of R49 million in 2012.<\/p>\n
“The increase in\u00a0revenue is due to\u00a0focusing\u00a0on the generation of new business in partnership with our channel\u00a0resellers,” SecureData said.<\/p>\n
Between May 2012 and the date of approval of these results, the group underwent extensive\u00a0restructuring and a major overhaul of its leadership team.<\/p>\n
Group headcount was reduced from 140\u00a0to 104, while certain products and services were discontinued, and other new ones introduced. “Experienced senior personnel were hired to strengthen the team,” SecureData said.<\/p>\n
Looking ahead, the group said that it\u00a0expects to maintain the present rate of growth in SecureData Africa. “The changes to our team\u00a0and to our structures and focus areas were implemented steadily throughout the past financial year.<\/p>\n
“We have started the new year with these improved teams and structures. We have also started the\u00a0new year with favourable changes to our product mix,” it said.<\/p>\n
“We also expect to maintain the present more modest rate of growth in SensePost as we take\u00a0advantage of the market\u00b4s demand for highly technical expertise and training.”<\/p>\n
SecureData swings back into profit<\/strong><\/a><\/p>\n SecureData hit by restructuring action<\/a><\/strong><\/p>\n