JSE listed Adapt IT reported surge in revenue to R578 million, for the year ended June 2015, from R408.5 million before.<\/p>\n
The company grew headline earnings per share by 35%, to 45.43 cents per share.<\/p>\n
Operating profit grew 89% to R93.8 million, from R49.t million in 2014, while profit attributable to shareholders was up 52%.<\/p>\n
Organic growth was 18% while acquisitive growth added 24% to turnover, bringing total turnover to R575 million, up 42%.<\/p>\n
\u201cOrganic growth was bolstered by a strong demand in the higher education sector, a sector in which the business has provided specialised software services for 29 years,\u201d said Sbu Shabalala, Adapt IT CEO.<\/p>\n
\u201cThe common thread in our business is deep vertical industry knowledge combined with the niche software we develop for selected industries.\u201d<\/p>\n
Adapt IT acquired telecommunications software provider, AspiviaUnison in September 2014, which was the major driver of acquisitive growth contribution.<\/p>\n
AspiviaUnison develops cloud based Communications Management software solutions, deployed in corporates and telecommunications carriers.<\/p>\n
A further offshore acquisition in the Education Sector, SMSS (Student Management Software Systems), in New Zealand also contributed positively.<\/p>\n
The Adapt IT Software business is well diversified across a number of sectors and geographies, with 77% of revenue coming from South Africa, 10% from the rest of Africa and the 13% from worldwide customers.<\/p>\n
\u201cThe company is well positioned to continue its growth trajectory by taking advantage of its unique market positioning, its improved market reach and favourable empowerment credentials\u201d Shabalala said.<\/p>\n
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