The focused Internet technology and services company NetActive has grown its revenue for continuing operations organically by 138%, up from R10,09 million to R23,97 million for the corresponding six month period ending 31 October 2000.
However it reported an operating loss of R851 000 for the interim period.
The company says operating loss for the half year arose as a result of the write-off of budgeted losses incurred in the establishment of the NetFlorist and NetParent e-ventures, amounting to R2.75 million for the period.
Net interest earned amounted to R4.05 million. Cash balances amounted to R70.78 million at October 30.
NetActive says this is primarily a result of the payment of the VAT liabilities arising from the M-Web transaction, when M-Web bought NetActives dial-up subscriber base in January.
The company`s earnings per share improved to 2.2 cents (1.5 cents) over the six month period.
NetActive focuses on providing Internet services to the small and mid tier corporate market. Its product offerings include connectivity, hosting, and managed e-commerce and VPN services, and its e-ventures, NetFlorist and NetParent.
Lawrence Brink, NetActive CEO, says, "Significant growth opportunities exist for the group, based on the incredible uptake of Internet services. NetActive has positioned itself to benefit from the growing demand for Internet services driven by e-commerce and the convergence of communications technologies via the Internet.
"The group will continue to grow by keeping abreast of technology trends and through providing innovative Internet solutions to its current customers and new target markets."
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