EOH has announced bumper annual results for the year ending 31 July 2007.
EOH reported a 40% increase in revenue to R703 million with profit before tax increasing by 30% to R72 million. Headline earnings per share are up 24% to 79 cents. EOH had R114-million cash on hand at the end of the period.
EOH is very satisfied with the period under review. The strong revenue growth is a result of organic growth within core businesses as well as from acquisitions. Earnings remain healthy, with growth continuing to be funded internally and cash reserves growing significantly.
“These results indicate that we are well ahead of our growth targets which is very good news for the Group. Our three dimensional approach offering product, service and industry expertise has ensured that we are well placed to meet the evolving needs of our customers and to successfully differentiate ourselves in a competitive market place,” says Asher Bohbot, chief executive, EOH.
He says that the financial year under review has seen the birth of some significant businesses aligned to the company’s three dimensional approach, “EOH Interim Talent is an exciting venture which focuses on the provision of highly skilled IT staff. This has a very positive impact on the lack of skills in the country and greatly assists our customers.” In line with this focus on people, Bohbot says the company is also growing its training and education business.
From a technology perspective, EOH has bolstered its infrastructure, networking and hosting businesses with the acquisitions of Bromide Technologies and LMX. Bohbot says there are further plans to build the networking and hosting offering.
“We see industry knowledge and industry-based businesses as key differentiators going forward and will thus continue to focus on these areas. We will also continue to build our application based businesses with the ultimate aim of offering end to end solutions.”
Among the areas of growth Bohbot views with excitement are developments in the technology optimisation space, “Technology optimisation is a key growth area within the software sector and we expect great things from our recent initiatives in this arena.”
On transformation, EOH now has 33,3% effective black ownership which involves all of their PDI employees. Of the Group’s 1 200 employees 40% are black, as is 50% of the board. “We are committed to transformation as an ongoing process, in which all of our people and stakeholders are involved,” Bohbot adds.