Shrugging off the recessionary blues that are dogging markets around the world, solution provider EOH has posted strong interim results for the six months to 31 January with a 45% increase in revenues and pre-tax profits up 29%.
Revenue for the period is R436-million, up from R301-million for the corresponding period last year, and profit before tax has increased to R41-million from R32-million. Headline earnings per share increased by 21% to 42 cents and EOH had R96-million in cash at the end of the period.
“In 2007 we stated that one of our objectives was to offer ‘end to end’ solutions to our clients and we can now do this by providing hosting, networking, infrastructure and interim skills in addition to our existing products and services,” says Asher Bohbot, CEO of EOH. "These additional offerings will enable EOH to form long-term strategic outsourcing partnerships with existing and new customers."
Also, he says, EOH has added another dimension to its offering, that of industry expertise. To enhance value to its clients, EOH is building knowledge and business acumen focused on five specific industries: mining, manufacturing, financial services, telecommunications and the public sector. It has also adopted a global mindset with the setting up of an office in the UK where the company will offer some of the locally offered products and services.
“We are in a good position to capitalise on our existing partnerships with major technology players, our skills base and our proven business model which all bodes well for our entry into this market,” Bohbot says. “The wide range of solutions offered to various industries in both the public and private sector, the growth of our contracted annuity based income together with our strong management team and financial strength, positions us well for our future growth.”
Bohbot adds that EOH’s growth strategy remains focused on organic growth supplemented by strategic acquisitions.