AltX-listed ISA Holdings says it expects to repeat the results of the six months to 31 August in the second half of its financial year.
Commenting on the group`s first results since ISA reverse listed into the former Y3K Group, CEO Clifford Katz says management is confident in its ability to achieve organic growth and remains committed to building the sub-Saharan information security market.
Revenue for the six months grew to R18.28 million from R14.62 million for the same period a year earlier, while pre-tax profit of R2.96 million compares with a previous R1.53 million profit. The net profit grew from R1.53 million to R2.63 million.
This translates into earnings of 2c (2004: 1.2c) a share and headline earnings of 2.6c (1.8c). The net asset value rose from 9.8c a share to 11.1c a share, while the net tangible asset value rose to 7.4c (4.3c) a share.
The results are in line with a trading update issued in August, stating that headline earnings would be between 2.34c and 2.7c a share while basic earnings per share were forecast at 1.8c to 2.04c.
"Despite the continued strength of the rand, operating margins remained on target, resulting in ISA exceeding budget," Katz says, adding that the group also met the management objective of matching profit with tangible cash on hand.
The ratio of cash generated to earnings was 103%. Cash at the end of the period stood at R7.64 million, compared with R1.35 million previously.
Katz says ISA is still in talks relating to a black economic empowerment deal and an outcome is expected within months.
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