A specialist in enterprise-wide business systems, listed in the software and computer services sector of the JSE, EOH Limited, today announced positive interim results for six months ending 31 January 2003.
"Historically, our financials paint a picture of consistent business growth. This set of results is no exception. Revenue and profit growth remain stable while we keep a very strong balance sheet," said Asher Bohbot, EOH`s chief executive.
EOH consists of a number of organically grown, independent business units as well as acquired companies that benefit from an established brand name; group level strategy formulation and execution; finance and control; in addition to cost savings through utilising shared services and maximising cross-marketing activities.
"The consistent application of the EOH business model and strategy have been beneficial and we intend to continue with the same approach going forward," said Bohbot.
"A major objective for the future will be to focus on our human capital development, which we see as our main differentiator. We are committed to black economic empowerment (BEE), which is an integral part of our business strategy. Our BEE strategy is based on transformation on four levels: equity, strategic, managerial and operational. Specific actions plans and goals have been set," said Bohbot.
"We continue to focus on building lifelong technology partnerships with our clients - always ensuring that our clients optimise and drive real value from IT investments," concludes Bohbot.
* Group revenue increased by 58% to R87.9 million (2002/01 R55.7 million)
* Net profit increased by 20% to R7.2 million (2002/01 R6.0 million)
* Profit from operations before tax, excluding goodwill amortisation increased by 22% to R9.6 million (2002/01 R7.8 million)
* Cash up 56% to R26.5 million (2002/01 R17 million)
* Headline earnings per share up 22% to 15.5c (2002/1 12.67c)
* The group is essentially debt free.
* No acquisitions were made during the period under review
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EOH is a business solutions provider creating lifelong information technology partnerships by developing IT strategies, supplying and implementing solutions and managing enterprise-wide business systems for medium to large clients.
EOH operates in the following three clusters of business units as a fully integrated business:
* EOH Strategic Solutions - is the initial point of contact with EOH clients through IT strategy development, management consulting, IT-enabled business process re-engineering, software selection and Supply Chain Logistics education to support world-class enterprise systems.
* Business Systems - Through a number of subsidiary companies, EOH is able to sell, implement and support a range of world-class business applications including ERP, CRM, business intelligence, advanced planning and scheduling, e-commerce and manufacturing execution systems (MES).
* EOH Outsourcing- involves comprehensive maintenance and support of the clients` IT infrastructure and applications through the offering of full IT outsourcing and application hosting.