IT services and specialist solutions provider, Adapt IT Holdings (ADI) on Wednesday (8 February 2012) reported headline earnings per share (HEPS) 74% higher at 6.19 cents per share for the six months ended December 2011, from 3.56 cents previously.<\/p>\n
Revenue increased by 8% to R92.3 million and profit from operations was 12% higher at R7.2 million, R6.5 million in 2010, the group said.<\/p>\n
Interim earnings per share (EPS) improved by 80% to 6.19 cents per share.<\/p>\n
\u201cThe minority buyouts of the previous financial year made a significant positive contribution to earnings growth,\u201d Adapt IT said.<\/p>\n
ITS Holdings increased its revenue and profitability through its focus on the higher and further education sector while Apply IT improved its performance through securing offshore clients in the resources sector, the group said.<\/p>\n
It noted that the continued tough trading conditions in the sugar industry negatively impacted on the profitability of Adaptit however, the environment is anticipated to improve going forward.<\/p>\n
The Adapt IT Group said it continued to pursue its long-term strategy to deliver sustainable above average returns to shareholders by focusing on a combination of organic and acquisitive growth.<\/p>\n
The acquisition of BI Planning Services in January for a consideration of R17.25 million, \u201cfurther enhances the group’s product offerings and provides access to customers within the financial services sector. The group will seek further significant earnings enhancing acquisitions,\u201d it said.<\/p>\n
\u201cThe group continues to grow its footprint in the broader African and International markets and maintains its tight focus on improving profit margins, seeking greater operational efficiencies and engaging positively with all its stakeholders in order to meet their expectations.<\/p>\n
\u201cWe envisage the second half of the year to remain challenging, however, we are favourably positioned to take advantage of the opportunities presented by our markets,\u201d Adapt IT concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
IT services and specialised solutions provider, Adaptit Holdings (ADI) on Wednesday (8 February 2012) reported headline earnings per share (HEPS) 74% higher at 6.19 cents per share for the six months ended December 2011, from 3.56 cents previously.<\/p>\n","protected":false},"author":9,"featured_media":5792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[1441,1442,1443,26],"class_list":["post-5785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-adaptit-holdings","tag-applyit","tag-h1-earnings","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/5785","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=5785"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/5785\/revisions"}],"predecessor-version":[{"id":17891,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/5785\/revisions\/17891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5792"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=5785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=5785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=5785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}