Interconnective Solutions achieved a retained profit of R0.57 million for the 14 months to 30 June, a turnaround from the R3.25 million loss incurred in the 12 months to 30 April 2002.
Chairman and CEO Mark Smith says the restructuring of the group to a telecommunications service provider has shown positive results.
Interconnective Solutions provides value-added voice and data services as an application service provider, focusing on two primary areas: "infotainment" services and information exchange services.
The group, which has changed its year-end from 30 April to 30 June, previously operated in the areas of data collection, collation and management.
"Revenues are traditionally lower in December and January than in other months of the year and, due to this change, the revenues of the group for the first six months of the year will in future be more comparable to those of the second six months of the year," Smith says.
The group achieved revenue of R19.02 million for the 14 months to June, compared with R7.83 million for the 12 months to April 2002.
A R0.59 million profit from operations compares with a loss of R3.25 million previously, while headline earnings came in at 0.9c a share, up from 0.52c.
Smith says Interconnective expects revenue and profit to continue to grow as electronic information exchange services are incorporated into the product portfolio.
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