Earnings from its ICT unit grew exceptionally during the year to August, shooting up 191%, says diversified holding company Sekunjalo.
The group yesterday reported revenue of R455.68 million, up from last year's R440.4 million, and said net profit from continuing operations was R48.1 million, from R36.5 million. Last year, the group reported a loss from discontinuing operations of R1.17 million, which was not repeated this year.
The group's strategic investments consist of British Telecom Communication Services SA (BTSA), Saab SA and Pioneer Foods. BTSA exceeded budgeted expectations during the year, says Sekunjalo.
Organic gains
Turnover from its Technology Solutions unit - its second-largest subsidiary - came in at R152.4 million, up from R142 million a year ago. Sekunjalo's fishing unit is its largest revenue contributor, but its second-largest profit unit.
Its ICT division saw earnings leap 191%, from R13 million to R38 million. Sekunjalo says the earnings growth from its ICT division was "exceptional".
Sekunjalo says its technology unit, which includes companies such as Saratoga and Digital Matter, continues to perform strongly as a result of organic growth. "It is well positioned to attain further niche acquisitions to increase its focused product offerings."
CEO Khalid Abdulla previously said the company wants to complement its existing services and may expand into niche and innovative areas.
Digital Matter, which is 75%-owned by Saratoga and provides mobile data and asset tracking solutions, grew profit from R700 000 to R1.3 million, while Saratoga improved its bottom line from R2.7 million to R4.3 million.
Health System Technologies, which provides hospital information and laboratory information systems, grew profit 81%, from R16 million to R29 million.
Sekunjalo's shares gained 2c yesterday - a 3.77% improvement - to close at 55c.
Share