Monday, 25 July 2011

ICT Company merger yields solid Interim Results

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AdaptIT Holdings, the formidable IT force created from the merger of InfoWave Holdings, Adapt-IT (Pty) Ltd and ApplyIT (Pty) Ltd has released its first interim results since the amalgamation. With this come some impressive highlights from the well transitioned company that offers a full house of IT services to its fast growing client base.
Nine months into the merger, the company has some good achievements reflected in its interims. Revenue grew 37% over the comparative period in the prior year to R37,5 million, while profit from operations grew 63% to R6,7 million.

Profit attributable to ordinary shareholders grew 37% to R4,2 million indicating that the company’s market presence is strengthening with its continued focus on improving of service delivery.

The results of the acquisitive strategy implemented over the past three years are pleasing and the integration of the businesses is progressing well.

Servicing clients in eight countries, there’s a keen interest in making sure the company continues to grow through offering a broader spectrum of software solutions and technology. "Our approach is dynamic and progressive. We are working hard to ensure that our clients continue to receive outstanding service," comments Chief Executive Officer, Sbu Shabalala.

Shabalala’s outlook is a very positive one. "The past six months have seen our company focussing internally to consolidate and ensure operational efficiency," he outlines. "Our aim has been to look after our existing customers first and foremost and grow sustainably from a strong base."

AdaptIT’s growth and the effects of diversifying its product-offering have helped with stability within the company amidst uncertain economic times internationally. This, coupled with commitment from management and staff has helped the company thrive in the industry.

2009 Highlights for AdaptIT Holdings:
• 37% revenue increase
• Operating profit 63%
• Earnings per share grew 23% to 4,36 cents

With overall results reflecting the company’s positive growth, AdaptIT Holdings has proven itself a steady market contender and one that is worth watching for future performance.


Alternative contact person:

Deshnee Govender
Tel: 031 508 1800
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