Grintek is planning on expanding its telecommunications division, which contributed the majority towards its R1b turnover.
The Kunene subsidiary says the R1b turnover mark is an important milestone for it and is particularly pleased that the growth was achieved organically.
Operating margins also improved to what the group describes as an "acceptable" 10% of turnover from the 6% reported the previous year. The group attributes this to improved efficiencies.
Earnings grew from R39.5 million to R76.7 million or 94% for the year and headline earnings per share increased by 73% to 27.4c.
Telecommunications, through Grintek Telecom, contributed R721 million of turnover for the year and Grintek says it intends to concentrate on annuity income from the division through new businesses in the consulting and network management fields.
Expansion of the telecommunications network providing voice, digital and Internet services in Southern Africa is expected to continue.
The group says increased emphasis on the development of specialised hardware and software will require increased investment to ensure the future growth of the telecommunications business.
A dividend of 4.8c per share for the year has been declared.
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