JSE-listed FoneWorx has grown its staff complement to cater for new solutions that are expected to add to its revenue.
The company provides interactive telecommunication, switching and business services, oriented around fixed and mobile networks, through its subsidiaries.
It has hosted promotions, competitions and voting services for events such as Idols, Telkom Charity Cup, Big Brother Africa, African Cup of Nations and Strictly Come Dancing.
During the half-year to December, the company grew its staff to cater for the development of its new solutions IDWorx, DRWorx and CarbonWorx. In addition, contract staff members were employed for the deployment of the IDWorx pilot programme at the Companies and Intellectual Property Registration Office (Cipro).
As a result, staff grew 20% and spending on staff increased 25.8% during the half-year. “This increase in human resources is essential for the group's continued development and the necessity to deploy its new services, while continuing to support the growth in its existing products and services,” FoneWorx says.
“These new brands will provide FoneWorx with new revenue streams not traditionally associated with FoneWorx and provide additional diversity to the group,” it says.
During the half-year, revenue increased 16.2%, to R45.8 million, and gross profit improved from R23.1 million to R28.7 million, a 24.5% increase. Profit after tax gained 11.6%, to R9.7 million from R8.7 million.
Growth offerings
FoneWorx has launched a pilot project at Cipro, with its YourIdentity product, which is part of its IDWorx division. The IDWorx division provides identity access management.
FoneWorx is engaging with a number of banks and financial institutions in some countries in Africa for the adoption of the YourIdentity solution.
DRWorx's service offerings include disaster recovery and workflow continuity, which is targeted at niche markets. FoneWorx has developed a hosting environment specifically aimed at the stock-broking and trading fraternity.
The company's first stock-broking client is expected to go live next month.
The CarbonWorx division is focused on carbon emissions education. This division enables individuals and corporates to calculate their carbon footprint, and then reduce their emissions by purchasing trees from CarbonWorx.
During the half-year period, FoneWorx developed a card-based mechanism that enables individuals and corporates to acquire points through different channels with the aim of redeeming the points for trees.
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