JSE-listed Adapt IT, a provider of specialised software solutions and services, has reported an 85% rise in operating profit interim results for the six months ended December 2014, to R38 million.<\/p>\n
\u201cIn line with our strategic expansion plan, our strong organic growth in tandem with strategic acquisitions have yielded continued positive results for Adapt IT,\u201d said Adapt IT CEO, Sbu Shabalala.<\/p>\n
Turnover for the year increased 38% to R261 million aided by positive contributions emanating from the existing divisions\u2019 organic growth of 11% and acquisitive growth contributing 27%.<\/p>\n
Headline earnings per share was up 35% to 18.6 cents (2013: 13.7 cents).<\/p>\n
On 1 September 2014, Adapt IT acquired AspiviaUnison (\u201cAU\u201d), a cloud-based enterprise and carrier communications management software-as-a-service (SaaS) solutions business, which has contributed positively to the financial services and manufacturing segments of Adapt IT.<\/p>\n
“Adapt IT\u2019s revenue is well diversified across four major sectors, improving resilience to market cycles and its strong annuity income provides long-term sustainability.<\/p>\n
“South African revenue in the period comprises 78%, with 10% of revenue coming from other African countries and the balance from global customers. Growth in the Africa market remains a continuing focus,” the group said.<\/p>\n
\u201cOur outlook remains positive as we continue to build on the strong well-diversified foundation, to create a sizeable leading ICT business that delivers above ICT sector average growth and returns.\u201d said Shabalala.<\/p>\n
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