EOH, a JSE-listed consulting, technology and outsourcing company, achieved headline earnings of 19c a share for the six months to 31 January, up 23% from the 15.5c for the same period a year earlier.
Group revenue rose by 66% to R146.3 million from R87.9 million previously, while pretax profit rose by 24% from R9.6 million to R11.8 million.
"The recent acquisition of the consulting arm of KPMG completes our range of offerings, creating critical mass and giving the business access to new industries," says CEO Asher Bohbot.
"Our intention is to rapidly capitalise on our position and forge ahead towards our vision to be the number one business and technology solution provider in Africa."
EOH announced in October last year that all the conditions for the acquisition of Atos KPMG Consulting had been met. The deal was valued at R20 million.
Director Rob Sporen says the integration of that business has been completed and the company is now operating as a single integrated entity.
He says Atos KPMG did make a contribution to the figures, with 50% of the revenue growth organic and other 50% attributed to acquisitions.
The integration was not without its difficulties and did have an impact on the business. "It`s all relative, but for us it was significant," he says. However, things are expected to normalise in the second half and the results are expected to show the full impact of doubling the group`s size.
EOH has said in the past that it has earmarked a stake of 25% plus one share for a black empowerment initiative. Sporen says although the group had been in talks with "a number of people", it has decided to allocate the stake to qualifying employees.
"We are talking to institutions to participate in a model that sees our own employees take the stake," he says. "We do have a number of people of colour now who would qualify for that stake."
Related stories:
Positive update from EOH
EOH goes ahead with Atos KPMG deal
Share
