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Metrofile returns to profitability

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Metrofile Holdings has announced revenues for the year ended 30 June 2007 of R299-million, with profits of R39,21-million. 

Metrofile is a market leader in the management of business records through its 16 storage centres and locations throughout South Africa.
It provides full lifecycle paper and electronic records management on-site or off-site, including collation, scanning, digital conversions, physical or electronic
preservation and destruction services.
This financial year was the final step in a five-year recovery plan that has seen the group return to its core skills and business of document management. The holding company now has sufficient cash on hand to deal with the few        
remaining provisions and contingent liabilities of the old MGX Group and has authority to issue a further 10-million shares for cash if needed for this purpose.
Revenue increased by 8,5% to R299,7-million, while EBITDA increased by 16,8% to R103,5-million.