{"id":52799,"date":"2014-02-06T17:01:17","date_gmt":"2014-02-06T15:01:17","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=52799"},"modified":"2014-02-06T17:48:12","modified_gmt":"2014-02-06T15:48:12","slug":"adapt-it-earnings-surge-embargo-1500","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/52799\/adapt-it-earnings-surge-embargo-1500\/","title":{"rendered":"Adapt IT earnings surge"},"content":{"rendered":"

JSE listed Adapt IT group, has reported a\u00a039% rise in turnover in\u00a0interim results ended December 2013,\u00a0to R189.6 million.<\/p>\n

Interim headline earnings per share improved 65% to 13.74 cents, from 8.35 cents in 2012, with operating profit up 75% to R20.5 million.<\/p>\n

\u201cWe are pleased to report another set of good results in a challenging trading environment\u201d said Adapt IT Group CEO, Sbu Shabalala.<\/p>\n

Adapt IT said that the education sector contributed R60 million towards overall turnover, with the manufacturing sector R68.4 million, energy sector R28 million and financial services sector R33.2 million.<\/p>\n

During the reporting period, Adapt IT acquired the Aquilon companies, a provider of consulting and systems integration for the Oil & Gas sector.<\/p>\n

Aquilon added R28 million in turnover for the reporting period; a deal that was effective from 1 October 2013 and worth a maximum purchase consideration of R98 million.<\/p>\n

\u201cThe Aquilon acquisition extended Adapt IT\u2019s services to Africa\u2019s growing energy sector, strengthened the company\u2019s presence in Cape Town and bolstered our SAP solutions expertise,”\u00a0Shabalala said.<\/p>\n

He added that the company will continue to realise synergies between its specialised software businesses to yield higher organic growth and margins, with increasing focus on other African countries.<\/p>\n

Further strategic, synergistic and earnings enhancing software business acquisitions will continue to be pursued.<\/p>\n

\"Sbu<\/a>

Sbu Shabalala<\/p><\/div>\n

More on Adapt IT<\/h3>\n

Adapt IT in R98 million Aquilon buy<\/strong><\/a><\/p>\n

Adapt IT profit soars, eyes telecoms<\/strong><\/a><\/p>\n

Adapt IT lifted by acquisition strategy<\/strong><\/a><\/p>\n

Adapt IT makes R10.4m cash acquisition<\/strong><\/a><\/p>\n

Adapt IT FY revenue up 24%<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

JSE listed Adapt IT group, has reported a 39% rise in turnover in interim results ended December 2013, to R189.6 million.<\/p>\n","protected":false},"author":10,"featured_media":44402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[3899,26,3556],"class_list":["post-52799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-adapt-it","tag-headline","tag-sbu-shabalala"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52799","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=52799"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52799\/revisions"}],"predecessor-version":[{"id":52801,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52799\/revisions\/52801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/44402"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=52799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=52799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=52799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}