Zaptronix has reported group revenue of R28.2 million for the 16 months to 31 August and a gross profit of R16.7 million, up from the R3.1 million revenue and R2.2 million gross profit achieved during the 12 months to 30 April 2004.
The trading results have shown a "substantial improvement" in profitability during the 2005 financial period over the 2004 financial year, with attributable earnings of 99c per share and a headline profit of 26c per share, the company says in a statement to shareholders.
This compares with a loss of 3c per share and a headline loss of 2.5c per share last year.
However, Zaptronix pointed out that care should be taken when drawing comparisons, as the reporting period is for the 16 months to 31 August, since the financial year of the company was changed to this date.
The company reported a net profit of R3.7 million during the period under review, compared with a loss of R2.1 million in 2004, while cash flow from operating activities increased to R2.9 million, from a loss of R310 000 in the previous year.
Cash generated from operating activities amounted to R3.2 million, compared with a loss of R318 million in 2004.
These were the first results presented by Zaptronix following its acquisition of DuO Solutions Provider, a mobile logistics management business built on the back of vehicle tracking technology.
"The group results reflect the impact of the investment in new technology on the DuO side," the company says.
"The growth in cash flows from operating activities, which gives the best indication of the impact of the DuO acquisition by the group. In addition, the cash flow also identifies the aggressive investment in the fleet management technology platform for the period, amounting to R3.1 million."
No dividend has been recommended or declared for the period, the group announced, as it is on an aggressive growth path and requires the resources to achieve its targets.
Share