Compu-Clearing Outsourcing`s attributable earnings dipped by 5.4% from R6.35 million to R6.01 million in the year to 30 June.
CEO Arnold Garber says the decrease is the result of higher expenditure related to an increase in headcount.
"This is a deliberate strategy that enables us to continually increase our service levels and prepare the company for anticipated customer growth," he says.
Total revenue amounted to R35.32 million (2003: R32.78 million), while an operating profit of R7.73 million (R7.63 million) was achieved.
"Although the strong rand did not have a direct effect on our operations, it caused a deterioration of client margins which resulted in a slowdown of growth in client spend," Garber says.
"We look ahead to the coming financial year with positive anticipation for moderate growth as well as the possibility of acquisitions."
Liquid assets on the balance sheet rose from R22.74 million to R28.14 million, sparking the declaration of an ordinary cash dividend of 8c a share plus a special cash dividend of 10c a share.
Garber says cash generated from trading operations is in excess of attributable income for the fifth consecutive year.
"It positions us well for growth, particularly in the international arena, where small but meaningful inroads have been made."
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