Crux Technologies has seen its revenue bear the brunt of its restructuring and disposals. Revenues for the interim period dropped from R84.8 million to R54.4 million for the comparable period.
Similarly, operating income was down from R7 million to R5.9 million for the six months to November. Net profit rose from R5 million to R9.6 million.
The solutions provider announced the disposal of its training division, Computer Training Institute, in September.
This was the third stage in Crux`s restructuring exercise, which began last year with the disposal of the insurance division, followed by the internal restructure and management changes earlier in the year.
The Crux board admitted that the "inordinate amount of management time spent on the disposal of the insurance division, and subsequently the training division, took its toll on revenue".
Crux currently has 70% of its on-going business in government sectors and is expanding its current portfolio to provide a "more complete" offering to its customers.
The group says it has streamlined its financial and administration division and has focused on cost containment and enhancing its cash flow.
Headline earnings per share came in at 2.17c, up on the 2.06c reported in 1999.
The share price gained some of the ground lost after the announcement of the results yesterday, climbing to 25c after a 24c opening this morning.
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