Beget Holdings` maiden results for the year to end-December have come in ahead of the company`s forecasts made in its prelisting statement last year.
<B>Salient figures</B>
Beget Holdings results for the year to 31 December 2002:
Revenue: R4.75m
Operating profit before depreciation: R3.51m
Net operating profit: R2.73m
Profit before tax: R2.75m
Attributable earnings: R2.13m
HEPS: 1.65c
EPS: 1.37c
Cash generated by operations: R1.42m
Cash flow from operating activities: R1.44m
After-tax profit of R2.13 million is 13% higher than the R1.89 million indicated in the prelisting statement, while headline earnings per share of 1.65c compare with a predicted 1.62c.
Beget`s business is the development of software for the transmission of data across mobile communications.
The company, which had a quiet debut on the JSE`s venture capital board last December, was the only new IT listing of the year.
It recently acquired the business of Namibian-based Ianitor International for R8 million.
"The group is well placed for excellent future growth in GSM telecommunication technology applications," it says.
"The acquisition of the business of Ianitor by Beget Connect created major synergies between the companies and will also enhance the export of the applications globally."
The share was untraded at 13c this morning.
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