EOH's cash has almost doubled year-on-year to R1.5 billion at the end of January, as the company bolstered revenue 39.4% to R4.6 billion in the first six months of the period.
EOH, which has a history of growing organically and through acquisitions, notes its top line gains were mostly attributable to organic growth, which accounted for 73% of revenue growth, with the balance coming from deals. Earnings per share gained 26.3% and headline earnings per share improved 26.4%.
During the first half, it bought Construction Computer Software, Managed Integrity Evaluation Proprietary, Afiswitch, and several smaller businesses for a total of R350 million in shares and cash. It says its cash gains position it well for investments in new territories, products, services and industries.
EOH, which employs 9 000 people and operates from 134 locations in South Africa, 29 African countries and in the UK, notes its after-tax profit gained 37.7% to R340 million.
All areas of EOH's business operations have grown, with the revenue from services being the most significant revenue generator - up by more than R1 billion to R3.4 billion, which is 73% of total revenue.
EOH plans to continue to grow aggressively in all areas through the introduction of new lines of business, industry-specific solutions and new domains, it says. "Growth will be organic, complemented with strategic acquisitions."
The listed company adds its foray into Africa will accelerate through the increase of its in-country presence, partnerships, joint ventures and acquisitions.
"EOH has the people, the scale, the offerings, financial resources, agility and the know-how to continue to grow aggressively," says CEO Asher Bohbot.
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