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Johannesburg - Specialised software solutions and services provider Adapt IT has reported a 38% increase in turnover to R261m while the company’s operating profit has risen 85% to R38m.
The Johannesburg Stock Exchange (JSE) listed company provides solutions and services that span the complete IT life-cycle, from consulting and application design, through to delivery and support.
Adapt IT mainly targets the education, manufacturing, energy and financial services sectors while it has customers in 18 countries in Africa, Asia, Australasia, Europe and North America.
And in terms of the company’s interim results for the six months ended December 31 2014, Adapt IT's turnover increased from R190m for the same period last year to R261m.
Its operating profit also grew from R21m in 2013 to R38m for the period ended December 31 2014. Meanwhile, headline earnings per share for the company are up 35% from 13.7 cents in 2013 to 18.6 cents in 2014.
“In line with our strategic expansion plan, our strong organic growth in tandem with strategic acquisitions have yielded continued positive results for Adapt IT,” said Adapt IT CEO, Sbu Shabalala, in a statement.
In September 2014, Adapt IT acquired AspiviaUnison (AU), a cloud-based enterprise and carrier communications management software-as-a-service (SaaS) solutions business.
“The AU acquisition was in-line with Adapt IT’s strategy of acquiring strategic software companies that improve the company’s competitiveness within the sectors wherein it operates, being manufacturing and financial services, in AU’s instance,” said Adapt IT.
Adapt IT said it also raised R41,8m equity and enhanced its black ownership equity status by 4,7%. The company added that its broad-based black female ownership equity status increased by 2,82%.
