Morvest, a listed provider of\u00a0ICT and outsourcing\u00a0solutions on Wednesday (26 February), reported a 15% rise in revenue\u00a0for the six months ended November 2013,\u00a0to R545 million.<\/p>\n
Diluted headline earnings per share improved to 6.20 cents, from 4.08 cents per share before, while\u00a0earnings before interest, taxes, depreciation, and amortisation\u00a0improved by 26% to R84 million.<\/p>\n
Gross profit rose to R280 million, from R233 million in 2012.<\/p>\n
Morvest said its Business Support Services\u00a0contributed 49% and the ICT Solutions Division contributed the balance.<\/p>\n
Approximately 93% of the revenue was generated in South Africa and balance\u00a0from Africa.<\/p>\n
Looking ahead, Morvest said \u00a0telco’s continues to exert margin squeeze as a result of pricing pressure, “and our cost containment whilst retaining quality and services is a key
\npriority for the year ahead”.<\/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.”<\/p>\n
Morvest lifts full-year revenue<\/strong><\/a><\/p>\n Morvest to continue African safari<\/strong><\/a><\/p>\n IT services a mixed bag in 2012 \u2013 analyst<\/strong><\/a><\/p>\n