Turnover at electronic security systems manufacturer Amalgamated Electronic Corporation (Amecor) surged 227% in the year to March, as operating profit improved 107% and after-tax profit moved up 88%.
Amecor reports that revenue moved from R43.7 million to R140.5 million during the year, as the group diversified its product range and each division contributed to revenue growth. Earnings per share grew from 23c to 31.9c on a diluted basis, as the group grew net profit 88%, to R29.7 million, from R15.8 million.
The company has several divisions, such as the FSK Group, which holds FSK Electronics SA. It produces short- and long-range digital synthesised radio transmitters; computerised radio and GSM repeater networks; high-speed radio and GSM modems; guard monitoring equipment; and a range of GSM-based equipment integrated with high-speed radio networks facilitating signal transmission worldwide.
Also in the group is Sabre Radio Networks, which owns and operates licensed data radio networks throughout SA.
The PDS Group holds Power Development Services, which supplies, installs and maintains uninterruptable power supply (UPS) systems, generators and associated standby power equipment. Durapower Manufacturing imports components, and assembles, distributes and sells UPS systems and associated standby power equipment.
Gillespie Diesel Services assembles, distributes and sells generators.
Amecor says it continued to invest in research and development, which has resulted in products being launched locally and internationally. It has committed to ongoing product development costs in the next financial year.
Operations
FSK Electronics, which was profitable during the year, continued to develop new products, allowing the company to branch out into other areas of the security industry. Amecor says the procurement of complementary products added to the diversity and adaptability of FSK's product offerings. The range has been extended by four completed products and will further expand through ongoing research and development.
Sabre Radio Networks grew its client base “substantially” during the year and its annuity-based income benefited the group, Amecor says.
Amecor's recent acquisition of a majority stake in the PDS Group contributed to product diversification within the company. PDS, which operates in the power solution sector, is well positioned due to a demand for alternative power in SA.
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