Durban-based technology services company Adapt IT has grown headline earnings per share by 55% to 34,55c in its 2014 financial year, which ended in June. That was on the back of a 34% rise in revenue to R406,3m and a 69% improvement in operating profit to R49,6m.
On the back of this strong growth, the company, which specialises in supplying IT solutions to the education, manufacturing, financial services and energy sectors, has hiked its dividend per share by 48% to 8,23c. The company has a policy of declaring a dividend at the end of the financial year and not at the six-month reporting date.
During the period under review, Adapt IT acquired the Aquilon group of companies, which now forms part of the Adapt IT Energy sector. “This acquisition has provided entry into the oil and gas industry, extending our SAP solution competence, introducing supply chain management solutions and offering Adapt IT excellent future growth potential,” said CEO Sbu Shabalala in a statement.
The education sector contributes 30% of revenue, manufacturing 37%, energy 17% and financial services 16%. Twenty-five percent of revenue is from abroad, mostly from 14 other African countries.
Adapt IT’s share price has added 135% in the past 12 months, though it’s been treading water since April when it peaked at R9,49/share. It was last quoted at R7,30/share, before markets opened on Monday. — © 2014 NewsCentral Media