Billcad Holdings, which plans to change its name to Planit Technology Holdings, is confident of growth despite a "slower than expected" start to the current financial year.
Chairman Johan van der Burgh says in the company`s annual report that acquisitions and disposals by the group in the previous financial year and afterwards will focus Billcad on its remaining activities.
These will concentrate on supplying business solutions, mainly over the Internet, to specific niche markets or industries, using "thin-client" technology.
"This places the company in the category of a truly Internet-dominated company, one of only a handful on the JSE," he says.
"The main focus of the group will be to obtain annuity income through the delivery of advanced application software, developed to integrate a complete information technology solution to specific niche markets or industry.
"This is generally delivered via a powerful server cluster which was acquired during the year and which is capable of expansion in order to cater for the increasing demand."
Subsequent to the year-end, Billcad agreed to dispose of its building IT business and has also entered into an agreement with Mashold Consolidated Investments to purchase its cabling and hardware distribution interests.
Dial-a-Movie is also to issue about 4.9 million shares to Billcad in exchange for intellectual property.
In the 14 months to 28 February, the group lifted turnover to R108.5 million from R5.8 million for the 10 months to 31 December 1997. Net profit after tax rose to R24.5 million from R1.7 million.
The proposed name change to Planit Technology Holdings, which the company says would better reflect its business after shedding the building division, will be put to shareholders at the annual meeting on 22 September.
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