JSE-listed technology group EOH has continued its strong growth momentum in the six months to end-January, adding 44,1% in sales to more than R1,6bn and lifting profit by 51,5% to R106,5m. It now has almost R400m in cash on its balance sheet.
The growth was both organic and from acquisitions, which included IT security specialist Stanley Security Solutions and Microsoft partner Airborne Consulting. The acquisitions contributed R11,2m to EOH’s profit before tax of R169,2m.
Services contributed just over R1bn in revenue in the six-month period (an increase of 58% over a year ago), with infrastructure adding R351,2m and software R264,2m. Margins in the services business have risen from 9,8% to 10,9%.
The group, which is led by CEO Asher Bohbot, says it sees strong growth opportunities in the rest of Africa and in SA’s public sector.
EOH’s share price was trading up 0,5% by 10am on Wednesday morning. In the past year, the share has gained 76,3%, making it one of the best performing shares on the JSE. — Staff reporter, TechCentral
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