ICT firm adapts to challenges
JOHANNESBURG, (CAJ News) – ADAPT-IT, the Johannesburg Stock Exchange-listed provider of specialised software solutions, has released a satisfactory set of results for the half-year ended December 31.
Turnover was up 19 percent to R310 million (2014: R261 million) while operating profit increased 50 percent to R53 million (2014: R35 million).
Geographically, turnover from South Africa contributed 72 percent while the rest of Africa contributed 10 percent.
The rest was accumulated from global customers.
“We have been consistent in pursuing diversification through an organic and acquisitive growth strategy which has contributed to this positive set of results for Adapt IT,” said Adapt IT CEO, Sbu Shabalala.
The company remained upbeat despite some challenges.
“Despite the challenging market conditions, our outlook remains positive as we continue to build on the strong well-diversified foundation, to create a sizeable leading ICT business that delivers above ICT sector average growth and returns,” said Shabalala.
– CAJ News
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