Listed IT outsourcing company EOH aims to grow, although it has no plans to expand geographically in the next two to three years.
CEO Asher Bohbot says the company will remain focused on its current territories of SA, Africa and the UK for the next few years, after which it may look at other geographic areas.
Bohbot says EOH sees plenty of opportunities to grow in those territories. Its management team is now strong enough to lead a company twice its size, he notes. It also aims to grow into the public sector.
The company yesterday reported record revenue of R1.255 billion, a 32% improvement on last year. In 1999, it reported revenue of R32.7 million and has shown compound annual growth of 38% since then.
Bohbot says EOH has not set specific growth targets as this could force it into making an acquisition unwisely, and just for the sake of meeting a target. Of the revenue growth in the past year to July, 70% was organic growth.
The group made a few acquisitions during the year, the biggest of which was Highveld PFS, for R70 million. In the second half of the year, it was appointed the sole representative of CA Southern Africa.
Bohbot says the company is keen to make acquisitions, but these must be the right fit. “We have conversations on a daily, weekly basis about potential acquisitions,” he says. However, fit is more important than price, he adds.
EOH has over 1 600 staff and 2 500 clients, including Aspen, Absa, Telkom, PG Bison and First National Bank. It listed on the JSE in 1998.
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