Information technology and business solutions provider Square One Solutions Group has lifted operating profit by 120% from R2.36 million to R5.2 million and significantly improved earnings per share from 2.8c to 9.8c, for the six months to end-June 2006.
Headline earnings per share doubled from 4.9c to 9.8c with the business posting a 156% increase in headline earnings from R1.07 million in the first half of 2005 to R2.74 million for the same period this year. Net profit after tax more than quadrupled from R626 000 to R2.7 million.
Square One CEO Trevor James said the results reflected the re-organisation of the group over the past few years to place more emphasis on conducting high margin solutions-based business. The company will continue this focus on developing and extending "technology-centric, business-enabling solutions" that add tangible value for companies and organisations across a broad spectrum of markets.
"We are seeing the positive impacts of the re-shaping of the business and the emphasis we have placed on partnerships with technology leaders and world-class brands, as well as in the development of skills and services that differentiate us in the marketplace."
Square One recently expanded its capability and presence in information and technology infrastructure, network security services and cellular solutions with the R5 million acquisition of specialist network services provider NETintellect. James said the purchase has extended the Square One footprint in the KZN and Western Cape regions.
"We expect to see the real benefits of the NETintellect acquisition in the second half of the year and to gain further impetus in our business solutions division as a result of our recent Microsoft Gold Partner certification, which underlines our competency and ability to deliver Microsoft solutions to a broad business user base."
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Square One Solutions Group is listed on the software and computer services sector of the JSE Securities Exchange. It focuses on providing IT-based business enabling solutions, has a national footprint and more than 20 years of experience in the South African market. Square One Solutions offers value-based solutions centred around IP infrastructure solutions, policy solutions, power solutions and product coding and marking solutions, to its key target market of enterprise, SME, corporate and government clients. The company also distributes document solutions, colour input and output devices and provides 24x7 national support and service. For more information, visit www.sq1.co.za.
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