Adapt IT reports 80% rise in earnings per share

2012-02-09 00:00

CLIENTS of KwaZulu-Natal-based Adapt IT would find it difficult to allow the service provider to exit their businesses as it has successfully embedded itself across all of its clients’ operations.

It is a model that provides the JSE-listed IT group with a significant competitive advantage.

Adapt IT yesterday reported an 80% rise in earnings per share to 6,19 cents, while profit before tax rose 12% to R7,2 million in its unaudited interim results to December 31, 2011.

Adapt IT CEO Sbu Shabalala told The Witness yesterday that another major competitive advantage is the group’s intellectual property, which provides it with annual licence fees from clients for the use of its software.

The group provides clients with solutions across various aspects of the operation, including finance, administration, human resources and production.

The group, which employs more than 300 people, consists of Adapt IT, ITS Holdings and ApplyIT.

It has operations in South Africa, Africa, Australia and Ireland.

Market conditions in the sugar industry, which the group services, remained tough on the back of the recent drought.

However, the group was able to secure a new client in the form of sugar company Addax, based in Sierra Leone. This partially offsets the drop in revenue emanating from other sugar businesses.

The stability of the higher education sector provided Adapt IT with significant financial benefits given its vast exposure to this sector both locally and abroad.

ITS Holdings’ client base consists of universities in South Africa, Africa, Ireland and Australia, as well as 13 further education and training colleges in South Africa.

ApplyIT has grown its exposure to the offshore resources sector, particularly in Australia and Africa.

The subsidiary boasts blue-chip clients like BHP Billiton and Newmont Mining.

 

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.