Rebranded business solutions provider EOH increased headline earnings per share 28% in the year to 31 July 2001.
<B>Figures at a glance</B>
EOH results for the year to 31 July 2001
Previous year`s figures in parentheses:
Revenue: R84.09m (R58.99m)
Net profit: R10.11m (R8.07m)
HEPS: 20.52c (16.05c)
NAV per share: 58c (39.94c)
CEO Asher Bohbot says the balance sheet remains strong, with growth being financed internally. "Cash resources were utilised to finance the share buy backs and settle our earlier acquisitions."
No further shares are to be issued in lieu of payment to vendors, and with practically no debt, the company is in a strong position, he adds. "The R24.8 million cash at hand is adequate to support our growth plans for the future."
EOH has expanded its operations beyond SA through a 50/50 joint venture - EOH Mauritius - with the Rogers Group, one of the largest operating groups in Mauritius.
EOH Mauritius is to provide full IT services to all of the business units of the Rogers conglomerate, which includes the implementation of enterprise solutions, IT outsourcing, hosting and ASP services.
"The JV with Rogers introduces to EOH a large customer base that includes an array of industries operative within Mauritius, other Indian Ocean Islands and East Africa," says Bohbot. EOH Australia, although small, is profitable and is expanding.
He says the rebranding of the company name from Enterprise Outsourcing Holdings to EOH, anticipates various marketing strategies and objectives.
"This will allow the company its own identity to compete within a dynamic commerce and to build the EOH brand to become the chosen technology partner for its customers. Stronger sales structures and processes will be implemented so that the company can capitalise on its vast customer base.
"We would like to ensure stronger collaboration between relevant business units and install processes and reward systems to enhance skills attraction and retention."
Bohbot adds that the group will continue to follow the proven business model in its current market and evaluate entry into new markets using a similar model.
"By extending the range of services offered to our current customers, we can expand our technology partnerships in the process."
The EOH share price was unchanged at 75c on the JSE this morning.
Related stories:
EOH ends its second year on a high note
Share
