4Sight posts strong interim results despite COVID-19 lockdown
4Sight Holdings (4Sight) has posted strong results for the six months ending on 30 June 2020. Highlights of the report include a 9% increase in revenue from R234.6 million to R255.8 million, with accounts receivables increasing by 2.7% to R77.4 million. Cash and cash equivalents also increased by 13.1% to R52.8 million year-on-year, and profit after tax rose by 47.4%.
Tangible net asset value improved by 40.2% from USD 6.5 million to USD 9.1 million.
These figures exclude the business operations of Digitata, which has been disposed of to its management in a transaction that will be completed in September 2020.
“These results are particularly pleasing because they cover the extremely difficult trading conditions caused by the COVID-19 lockdown. The fact that the group was able to perform so well, and generate so much cash, is proof that the strategy we embarked on last year is both robust and delivers what customers want,” says Tertius Zitzke, CEO, 4Sight. “Now that the economy is starting to run again, and companies have seen just how close the link is between digital transformation and resilience, we are expecting an even stronger performance over the next six months.”
The group’s strategic repositioning is aimed at enabling the development and implementation of turnkey solutions that bring together the convergence of operational and information technologies within the context of real-world business environments. In so doing, 4Sight helps customers become Enterprise 5.0 organisations; converging 4IR technologies, people and intelligent data to effectively drive increased profits and efficiencies.
The fourth cluster of 4Sight’s strategic reorganisation has been the development of a strong channel go-to-market offering within the Microsoft ecosystem to capitalise on its strong capabilities in Azure and other Microsoft Services, key enablers of the move to Enterprise 5.0.
4Sight is an Indirect Microsoft Cloud Solution Provider. During the last 12 months, it increased its number of Microsoft Cloud customers by 79.5% and its active Microsoft Cloud subscriptions by 66.3%. In total, it has achieved triple-digit growth in the cloud service provider segment over the past two years, and, says Zitzke, expects to maintain its momentum in the current financial year.
“This stellar growth in the Microsoft ecosystem is based on our unique methodology for monetising the digital journey for customers to ensure that they achieve a speedy return on investment. Only a small percentage of our existing client base have embarked on that journey, which means we have a huge opportunity here as we work ever more closely with Microsoft,” he explains. “In particular, we will be working together to help Tier 1 and Tier 2 customers develop practical, effective strategies for cloud migration.”
Looking forward, Zitzke says the broad-based black empowerment joint venture recently created with the Unplugg Group, to be known as 4Sight Unplugg, has created a new entity with excellent skills and a close culture fit. 4Sight Unplugg, under the leadership of CEO Antony Hlungwane, will be a major drive of 4Sight’s growth strategy going forward.
To view the results, please go to: http://bit.ly/4Sight-Interim-Results-30June2020