Telecommunications billing systems supplier Intec Telecom Systems says revenue surged in the first quarter of its current financial year, but there are concerns about the US dollar and the overall state of the industry.
The London Stock Exchange-listed company, which has offices in SA and the US, says it looks forward to meeting full year expectations with a satisfactory trading outlook.
According to Intec, turnover of lb15.6 million (R199.368 million) increased by 50% for the three months ended 31 December 2003, compared with the same period 12 months before. The company says this was achieved with organic and acquisition-driven growth in all key activities.
Adjusted earnings per share increased to 0.58 pence (741c) from the 2003 loss of 0.03 pence.
Intec says during the period under review it signed 24 new contracts, issued 11 new licences, and gained 13 new bureau customers.
However, the falling dollar did affect revenue and earnings, costing the company an estimated lb0.7 million and lb0.3 million respectively
Intec says there was operating cash outflow of lb0.1 million (R1.2 million) after working capital investment in Digiquant - Intec`s Danish subsidiary that supplies Internet management billing systems.
Loss before tax reduced to lb0.75 million (R957 000) compared to a loss of lb1.5 million in the same period the year before.
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