EOH forges ahead

Business solutions provider Enterprise Outsourcing Holdings (EOH) has reported continued growth in its interim six months to end-January.

The group achieved a 20% increase in net profit to R7.2 million compared with R6.01 million in the same period a year earlier. The improvement was purely on an organic basis as EOH made no acquisitions during the six months.

CEO Asher Bohbot says the board is satisfied with the overall performance.

"Historically, our financials paint a picture of consistent business growth," he says. "This set of results is no exception. Revenue and profit growth remain stable while we keep a very strong balance sheet."

He says growth has been financed internally and cash resources increased by 56% to R26.54 million. "The group is essentially debt free."

EOH, which operates in Africa, Mauritius, the Middle East and Australia, is structured around three business areas - strategic solutions, business systems and outsourcing.

"The consistent application of the EOH business model and strategy have been beneficial and we intend to continue with the same approach going forward," says Bohbot.

"A major objective for the future will be to focus on our human capital development, which we see as our main differentiator."

He says black economic empowerment (BEE) is an integral part of the business strategy.

"Our BEE strategy is based on transformation on four levels: equity, strategic, managerial and operational. Specific action plans and goals have been set."

The EOH share, which gained 5c to 135c yesterday, was untraded by midmorning today.