TeleMasters has turned in a set of maiden full-year results, showing a net profit that exceeds the company`s pre-listing forecast by almost 51.7%.
"The results for the year exceed the forecast due to good trading conditions, resulting from a conservative approach taken at the time of preparing the forecast," says CEO Mario Pretorius.
The company has declared a dividend of 12c a share.
TeleMasters, a distributor of cellular least-cost routing, listed on the JSE`s AltX in March, after a private placement of 42 million shares, at 50c each.
The share, which opened at R1.62 on the day of listing, closed as high as R3.50 in April, shortly after the release of promising interim results, and has since declined to lower levels, closing at R2.20 yesterday. It recorded its lowest close, R1.85, early last month.
<B>Fast figures:</B>
TeleMasters full-year results to end-September
Prelisting forecast in brackets
Revenue: R150.71m (R129.82m)
Pre-tax profit: R15.45m (R11.1m)
Net profit: R11.01m (R7.26m)
HEPS: 26.95c (17.28c)
Current assets: R30.13m
Current liabilities: R20.59m
Cash: R19.35m
Pretorius says trading conditions continue to be good and the company increased its sales staff numbers 25% in the last quarter. Despite this, he says, TeleMasters has a strong focus on containing costs.
"We`ve set out to create a period of 100% organic growth and to demonstrate our real capability," he says.
"What is particularly satisfying about the results is that they are not influenced by any major deals or tenders. They thus reflect the core vibrancy of the business," says Pretorius.
"The company is set to continue with its existing organic growth and anticipates the growth in the company to be in the region of 20% in the next year."
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