IT and telecoms group Beget Holdings has reported a turnaround in the six months to end-June.
In its unaudited consolidated results for the period, Beget reports increases in gross revenue (up 180%), profit (120%) and headline earnings (120%).
Gross revenue of R8.693 million, with a R299 000 operating profit are reported.
The results reflect a reversal of the loss incurred for the previous financial year, ended 31 December 2004, say Beget`s directors.
The period had seen a number of "significant milestones, marking the start of recovery for the group," says the company.
The stronger financial position was attributed to the successful global launch of the group`s proprietary GPRS-enabled devices as well as a positive market acceptance of biometric technology.
"This, together with Beget`s bolstered management team, has positioned the group to continue its positive turnaround," the company says.
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