Following double-digit growth in turnover and profit this fiscal, Internet Solutions has expressed an optimistic view of the IT industry in 2004 and cites its success as a beacon for the future.
The company has for the 10th year in a row posted higher turnover and profit in relation to the previous period and CEO Angus MacRobert believes the time may be right for the company to move into an acquisitive phase.
This 2002/2003 year-end saw turnover up by 24% and net profit 36%. Both cost of sales and overheads were well controlled, resulting in another year of good margins and exceptional bottom line results. The business celebrates its 10th anniversary this month and has posted consistent growth over the past decade. This despite continued pressure on the IT industry and the recent flagging fortunes of some players.
To its credit, management has never swayed from its policy of investing in people and innovation. "The establishment some three years ago of our specialist business units has seen us diversifying from the rather narrow field of internet access, into added value solutions ranging from e-commerce and outsourcing to the latest in security and hosting offerings," says MacRobert.
"We have an incredible track record of growth and need to continue the good run. While we are fully confident of our ability to grow organically, there are really good acquisition opportunities out there," he adds. The company enjoys the benefits of dependable retainer income and high cash generation. Despite that, MacRobert cautions that IS will not be hasty in its rush to expand. "We will tread very carefully and with the benefit of an industry that has some hindsight. Our policy of partnering with technology-rich companies over the past few years has worked well for us and we can extend this into other forms of relationships or in fact continue with what we have developed to date."
The company`s 10th year has brought in two recent distinctions. In first attempts it reached the top 20 in the Non-Listed Company Awards and were voted by employees as the top South African ICT company to work for, reaching a final position of 12th overall.
MacRobert is particularly proud of the culture of innovation that the business continues to foster and is confident that this and its good financial performance will continue unabated.
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Established in 1993 as the country`s first commercial Internet service provider, IS has grown in stature and today attracts 80% of the SA`s top 250 listed companies. IS remains the leading ISP with a market share of over 50%.
Probably one of the country`s most successful post-apartheid companies, IS has expanded from being a pure Internet connectivity provider to an innovative and pioneering business with services that include Internet access, VPNs, hosting, dial-up, security and business gateway solutions.
Testimony to its recognition as a market leader IS has earned an impressive collection of awards, which includes eight First National Bank "Most Admired" awards, Professional Management Review silver and golden arrow awards, Financial Mail Deloitte & Touche Best Company to Work for Award and even a Loerie award for its design work.
In 2002 IS was certified as a Cisco Managed Security Service Provider (MSSP), the first and only company outside of the US to be awarded this accolade. The CPN-MSSP brand associates IS with the worldwide leaders in Internet security.
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