First-tier Internet service provider (ISP) and network integrator, DataPro, has announced that its turnover has increased by 218% for the year ended August 2002 in comparison to the previous financial year - making it the third largest ISP in SA in terms of revenues.
This was confirmed by Douglas Reed, MD of DataPro. Reed said the company is in a "unique position" in the ISP industry because it is also cash positive.
"We are generating cash and are rapidly growing recurring revenues from value-added services. We are currently looking for potential acquisitions and are continuing to find ways to provide our clients with additional services to boost their efficiencies in an increasingly digital economy."
Reed said the company is aiming to reach a market capitalisation value of R500 million within the next three to five years.
"Our EBITA [earnings before interest, tax and amortisation] will reach R59 million by the year ended August 2004. This will be attained purely through organic growth. If there are any acquisitions, this figure will be considerably higher. We are also still on track to become the ISP that connects the most corporate clients to the Internet."
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