Johannesburg - Gijima AST [JSE:GIJ] has announced the
resignation of its chief executive officer Jonas Bogoshi with effect from December 31 2012.
There will be a formal handover period of three months‚ the
company said on Wednesday.
The board thanked Bogoshi for his hard work over the past
five years and wished him well in his pursuit of new endeavours.
Earlier on Wednesday the
ICT services group reported a narrowing in its diluted headline loss per share
to 5.27 cents for the year ended June 2012 from a loss of 21.65 cents a year
Revenue was little changed at R2.53bn from R2.57bn a year
ago‚ while its operating loss narrowed to R49.09m from a loss of R258.16m a
The company said its results were significantly impacted by
the cost of establishing its client centric business model‚ the loss of two
significant contracts as well as the cost of an internal optimisation
It has now completed the implementation of its new structure
and its business model has been altered to reflect an organisation where client
centricity is the primary focus. This positioning will allow for improved
industry and client understanding to better translate solutions that
differentiate it from its peers‚ it said.
As part of the re-organisation‚ Gijima has appointed several
senior leading IT industry executives to drive the various client centric
initiatives. The cost of establishing the client centric model amounted to
A significant contract was lost and a material portion of
another key contract was insourced during the year‚ significantly impacting on
revenue and profit.
No dividend has been declared for the year.
Looking ahead‚ Gijima said it has invested to position the
group for stability‚ consolidation and growth. New generation services in the
areas of mobility and cloud are starting to bear fruit.
Gijima's mobility framework‚ which includes Mobile Device
Management‚ application development along with the ability to integrate into
existing legacy platforms is complete‚ and the market has begun to show good
interest in the solutions. Gijima's end-to-end security offerings are being
positioned to target the significant pain-points being felt by large
organisations today‚ particularly in the financial services industry.
These new generation services will also provide useful impetus
to Gijima's traditional strength in the infrastructure space‚ it added.
Despite the challenges in the 2012 financial year‚
management is confident that the remedial actions taken have positioned the
company for an improved performance‚ it concluded.
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