Shares in Adapt IT advanced 10.74% in early trade on Tuesday after it advised that it has entered into negotiations in respect of a possible acquisition.<\/p>\n
The group added 65 cents to trade at R6.70 on the JSE in Johannesburg, putting its market capitalisation at R712 million.<\/p>\n
Adapt IT provides solutions and services to the education, manufacturing, financial services and energy sectors.<\/p>\n
In August, it reported a 69% rise in operating profit to R49.6 million for the year ended June 2014.<\/p>\n
Turnover increased 34% to R406.3 million from R303.4 million in 2013, with headline earnings per share up 55% to 34.55 cents.<\/p>\n
Adapt IT\u00a0lifted its dividend per share by 48% to 8.23 cents, from 5.56 cents before.<\/p>\n
During the period under review, it acquired the Aquilon group of companies, which now forms part of the Adapt IT Energy sector.<\/p>\n
Adapt IT warned that if successfully concluded, the deal “may have a material effect on the price of the company\u00b4s securities” and advised shareholders to exercise caution when dealing in it’s shares.<\/p>\n
Adapt IT reports 69% rise in profit<\/strong><\/a><\/p>\nAdapt IT earnings surge<\/strong><\/a><\/h3>\n