Morvest, a black-owned business support services provider, anticipates revenue and bottom line gains for the full year to May.
In a statement to shareholders, the group noted revenue should come in at between 14% and 16% higher than the reported R956.1 million for the 2013 year, while headline earnings are expected to be between 15% and 17% higher than the R40 million it achieved last year.
Morvest is a holding group with a footprint in SA, Mozambique, Nigeria, India and the US. Its operations are aligned into three key divisions: business support services (including professional services and outsourcing solutions), ICT solutions, and its retail and consumer services unit.
The company last year bought, through its 50%-held subsidiary ITQ Business Solutions, 60% of iSolve Business Solutions and SQLDB Technology Solutions for R16.2 million.
The group also notes headline earnings per share should be between 23% and 26% higher than the 8.2c it reported last year. Analysts see headline earnings per share as a core measure of performance as it strips out non-core or unusual items.
Earnings per share are also expected to grow, by 226% to 229%, when compared to the 2.38c reported last year.
A year ago, the group noted markets in South Africa and Nigeria were challenging, despite some early signs of recovery. Despite this, its domestic operations performed well with reasonable improvements in margin.
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