Integrated Technology Holdings (ITHold), formerly Integrated Health Technologies debuts on the main board on the IT sector today.
Switching from the venture capital sector, ITHold management has coincided the listing with the group`s re-branding and change of focus.
ITHold released strong interims and was met with no resistance from stakeholders when management proposed the change of focus. MD Siegfried Brits is optimistic as he says ITHold has more than met the JSE requirements to trade on the main board. Brits adds that the venture capital sector has been taking a pounding of late and he is happier to see the company on the main board.
Brits did not see the move affecting the share price and indeed, at 10.45am the share was trading at 48c, the same price it closed at on the venture capital sector on Friday afternoon.
The company intends to move into knowledge management as well as extend its involvement in data warehousing. This move has been made possible as the group channelled its healthcare interests into a joint venture with IQ Health, a subsidiary of Fedsure; and is now free to concentrate on growing the new side of the business.
Compared to the six-month period ending June 1998, revenue grew from R12.5 million to R20.5 million, a 64% increase, with net income attributable to shareholders rising by 272%, up from R897 887 to R3.336 million. Headline earnings also saw a healthy increase to 4.80 cents from the 1.61 cents reported for the comparable period last year.
The company has a relatively small market cap of R35.8 million.
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