Compu-Clearing Outsourcing (Compuclear) is only one of three non-US software houses whose software has been approved for use by freight forwarders and air cargo companies to relay manifest information to US Customs.
Chairman Arnold Garber says this is an important development in advancing the company`s international prospects.
Garber says in his comments on the group`s results for the year to end-June that Compuclear has embarked on several new initiatives which are expected to yield positive results in the new financial year.
Among other projects, the group has entered into working agreements with two niche banks for the development of systems to facilitate banking transactions for the customers clearing and freight forwarding industry.
For the 12 months to June, Compuclear`s pre-tax profit rose 5% to R9.48 million from R9.04 million previously. However, attributable earnings and headline earnings were affected by a higher secondary tax on companies charge as a result of a special dividend paid in October last year.
Last year the group declared an ordinary cash dividend of 8c a share plus a special cash dividend of 10c a share.
As a result, attributable earnings slipped from R6.01 million to R5.9 million, while headline earnings fell from 16c a share to 15.6c. This was on revenue of R37.56 million, which compares with R35.32 million previously.
"Revenues and margins have been sustained, despite the absorption of costs pertaining to the closure of our Durban and Cape Town offices, as well as nonrecurring expenses relating to the establishment of a new business partner programme," Garber says.
He adds that the closure of the branches, and their replacement by the business partner programme, will result in better service levels and cost reduction.
The group has declared an ordinary dividend of 10c a share, to be paid on 12 September.
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