Better than expected trading conditions and conservative forecasting helped TeleMasters to deliver solid interim figures in its first financial report following its listing on the JSE's Alternative Exchange.
At last month's listing, TeleMasters CEO Mario Pretorius said the company's revenues predominantly came from least-cost routing (LCR). However, he added this was due to customer demand and the company continued to investigate alternative solutions that could be offered to businesses as demand rose.
Yesterday's release saw the company produce R72 million in revenue for the six months ended 31 March, off a prorated profit forecast of R65 million. TeleMasters does note, however, that its interim figures include a R1.5 million incentive obtained from a supplier, which may not be repeated in the next trading period.
Net profit came in 54% higher than forecast, at R5.6 million. This resulted in earnings per share and headline earnings per share of 13.26c, 53% higher than the prorated 8.64c.
TeleMaster's share price closed 3% higher yesterday at R2.08.
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