AltX-listed IFCA Technologies Limited (IFCA Tech), a provider of industry specific software solutions and computerised business equipment, today announced the company’s results for the 10-month period ended 31 December 2006, reflecting a positive revenue growth of 21,1% and a growth in PAT of 53,6 % over the previous financial period which was a 12 month period.
With this being the first results announcement since the company’s listing in December 2006, the directors are pleased to report that the profit forecast set out for the listing in December 2006, has been exceeded. Headline earnings per share are at 4,04 cents compared to the 3,57 cents contained in the company’s prospectus, indicating an improvement of 13,1%.
CEO of IFCA Tech, BK Wong, attributes the strong performance to increased business with existing and new customers, resulting in an overall growth in income.
“We have actively developed software solutions and services, reinforcing our market dominance by either renewing our existing customer contracts or signing on new ones. Our product set has been nurtured and matured for almost 20 years by the IFCA group worldwide, thus we boast a client list such as Arivia.kom, Transnet Housing and several well-known clubs and resorts. These contract wins have cemented our leadership in the hospitality, property and finance and leasing sectors.”
Dr Thandi Ndlovu, chairman, adds: “The conclusion of new and extended service contracts with Swaziland National Housing Corporation and National Housing Enterprise (Namibia) respectively is an indication of IFCA growing their client base into the African continent – an exciting prospect for the year ahead.”
Other future prospects include the intended expansion of IFCA’s reseller base in both Cape Town and Kwa-Zulu Natal. The product range will also be expanded to meet the needs of the SMME’s, which is in line with the current business development projects launched by government.
Wong adds: “The launch of our computerised business equipment business opens up an array of new prospects for us, prospects that have not been fully targeted in the past. The computerised business equipment is also complementary to the current software solution set of the company.”
Commenting on the 10 month results, Wong says that the results are satisfactory and with the ongoing efforts to reduce, in particular, consulting fees to international consultants, the directors consider that the business prospects are sound, based on the excellent existing client base, levels of annuity income and prospects identified in the pipeline.
“We are confident that our stable financial footing and wide solutions offering will result in positive results for the 2007 financial year,” he concludes.