JSE-listed Aplitec has reported a 35.1% increase in net profit for the six months to 31 December, with the bottom line rising to R73.43 million from R56.35 million a year earlier.
Revenue for the period rose by 25.7% from R310.83 million to R390.74 million while the operating profit soared by 46% from R80.06 million to R116.88 million.
Headline earnings increased by 23.8% from 26.21c to 32.36c.
CEO Serge Belamant says the group lost about R15 million on the implementation of the Eastern Cape social security payment contract because of a delay by the province`s government in transferring districts.
"The Eastern Cape government has agreed that all districts will be transferred to Aplitec by 1 May 2004, whereafter our endeavours in the province should be profitable," Belamant says.
Other business endeavours continue to perform in line with expectations.
Belamant says the process to obtain the regulatory approval for the acquisition of Aplitec by Net1 UEPS Technologies is under way and all the necessary filings and submissions have been made.
The deal will see a delisting and winding-up of Aplitec and the listing of Net1 UEPS Technologies in the US.
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