Compu-Clearing Outsourcing`s headline earnings slipped by 2.5% to 7.8c a share for the six months to end-December, compared with 8c for the same period a year before.
Basic earnings per share fell from 8c to 7.5c. CEO Arnold Garber says this was mainly because of non-recurring costs incurred in the roll-out of new accounting software for the freight industry and development costs of international operations.
"A further factor was the increased secondary tax on companies charges on the higher dividend paid in this period over the previous period."
Total revenue rose by 9.6% from R16.26 million to R17.82 million. More significant, says Garber, is the 17.4% increase in income from the core software rental business from R10.47 million to R12.29 million.
Attributable earnings slipped from R3.23 million to R2.88 million.
The balance sheet shows a healthy position at the end of the period, with current assets of R23.37 million far exceeding current liabilities of R3.01 million. Liquid current assets amounted to R17.17 million.
Garber says the company has retained its dominant position in the freight industry with new clients being gained.
"It is anticipated that the results for the second half of the year will enable a growth in earnings per share to be achieved," he says.
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