Subscribe

Adapt IT predicts earnings growth

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 18 Jan 2018
Sbu Shabalala, CEO of Adapt IT.
Sbu Shabalala, CEO of Adapt IT.

Adapt IT says it is expecting headline earnings per share (HEPS) to be between 20% and 25% higher year-on-year for the six months ended 31 December 2017.

The JSE-listed group released a trading statement estimating that HEPS will be between 29.29cps and 30.51cps for the half year, compared to HEPS of 24.41cps for the six months ended 31 December 2016.

Adapt IT says that similarly, earnings per share (EPS) will rise by between 29.28cps and 30.50cps, reflecting an increase of between 20% and 25% compared to EPS of 24.40cps a year ago.

The company is a provider of specialised software solutions and services to the education, manufacturing, energy, financial services and hospitality sectors. It services more than 10 000 customers in 40 countries and has local offices in Durban, Johannesburg, Pretoria and Cape Town, and international offices in Mauritius, Botswana, Ireland, Australia and New Zealand.

Despite consistently producing strong results Adapt IT's stock on the Johannesburg Stock Exchange took a beating over the past year, trading 46.84% lower over the last 12 months according to Bloomberg data.

However, the stock has bounced back in 2018, increasing by 28% year-to-date and trading at R8.35 per share at the close of the market on 17 January.

Adapt IT's interim financial results are expected to be released on 25 January.

Share