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Ellies, which listed on the JSE's AltX in September 2007, reported a 15.46% increase in revenue to R701.9m.
Profit from operations was up 30.2% at R89.1m and profit for the period was up 26.5% at R58.3m.
No dividend was declared as all earnings generated by the company will be used to fund future growth.
The company said it has maintained strong and consistent growth in revenue and profitability and has exceeded its forecast for the current financial period.
Growth in revenue was driven by steady demand in the retail and DIY sectors, satellite sales to the lower LSM market and to some degree the demand for power generation and related products in the latter part of the year. Enhanced productivity efficiencies, helped achieve these earnings.
Demand for power generation products impacted on Ellies' revenue and profit growth to some extent in the latter six months of the reporting period. Although the demand for the "consumer home" generation is expected to decline, the supply of larger generators to business is expected to continue.
The board expects the current adverse economic climate to impact on Ellies in the short term. However, its diversity of products and customer base will, to some extent, hedge against much of this impact.
Cautiously optimistic
Export growth also helps to limit Ellies' exposure to current conditions, as will High definition and Digital product advances, the developing Corporate and full maintenance Rental Divisions and the continuing growth in market share of domestic electrical products.
Ellies' Electro-plating plant commenced full production in April 2008 and is adding further efficiencies and cost savings to the Engineering Division and improving export competitiveness.
The acquisition of Megatron Federal, finalised after year end, has not affected these results. A contribution to earnings from Megatron Federal will be included in the results for the year ended April 2009.
The Botswana companies trading as Ellies and ElSat were included in the profit forecast as published in the prospectus. At this stage, exchange approval is still awaited, with completion imminent. IFRS3 requires the results of Botswana to be excluded until all conditions to the agreement have been fulfilled.
Accordingly, the results of Botswana have been removed in the pro-forma profit forecast and current 12 months trading to April 2008.
Looking ahead, Ellies said it remains cautiously optimistic with regard to the group's organic growth notwithstanding the current leveling-off of general consumer demand and spend.
With the acquisition of Megatron Federal as of May 1 2008, and in light of their forward order-book, seamless integration, contribution to product lines and expertise and inherent synergies with Ellies, the board expects to maintain growth in revenue and profitability.
- I-Net Bridge
