Diversifying its customer base resulted in revenue growth in the six months to August, says control, measurement and process improvement system firm Ansys.
The company says revenue improved 36%, from R41.2 million a year ago to R56 million, and gross profit nearly doubled to R25 million. Some R6.9 million in cash was generated from operating activities.
Ansys says its headline loss per share narrowed from 4.7c a year ago, to 1c in the first half. However, the company has seen a delay in being awarded a number of projects, it says.
“Following the award of significant contracts from new and existing customers, that are currently pending, and the growth in defence orders, the company expects an improvement in its performance for the second half of the year, leading to a return to profitability for the whole year,” it says.
Ansys offers complex rail trackside measurement, communication and signalling to Transnet, Metrorail and the mining industry.
In the defence industry, it supplies weapon system integration, thermal and visual surveillance and sighting imaging systems, and stabilised platforms for air, land and sea applications.
To industrial and security corporates, it offers thermal imaging, process measurement, maintenance automation and other systems.
So far, the company has received contracts with an executable value of more than R150 million, which should ensure Ansys is profitable by the end of February next year.
Contracts secured include projects such as the Transnet Wayside Reader expansion, mine rope testers, locomotive communication systems and defence-related optical system exports to Africa, China and Turkey.
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