JSE-listed Adapt IT is seeking to add to its stable and wants to move further into Africa to take advantage of growing opportunities in the resources and education sectors.
The company late yesterday published its results for the six months to December. It said revenue improved 8%, to R92.3 million, and profit was R6 million, up from the previous half-year's R3.3 million.
The company said earnings per share were 80% higher, at 6.19c. CEO Sbu Shabalala says: “There is pressure on us to repeat such a feat.”
New opportunities
Shabalala says the company is well into the implementation of its growth strategy and is starting to expand its footprint into Africa and overseas. He says the company has picked up contracts in the sugar sector in Sierra Leone, education in Rwanda, and resources in Ghana and Australia.
Adapt IT wants to improve its ability to operate in African markets and make sure it understands the sectors, as that is where the opportunities are coming from, says Shabalala. “We continue to grow our footprint in various African and international markets.”
Shabalala says the group continues to seek further significant earnings enhancing acquisitions.
In January, Adapt IT bought business intelligence company BI Planning Services, for R17.25 million. BIPS will add to its earnings in the next six months, says Shabalala.
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