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SecureData reports growth

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SecureData increased its revenue by 82%, to R112-million, during the six months ended 31 January.

The group's unaudited results for the period report that R18-million of the revenue was attributable to the acquisitions of SensePost and New Generation Solutions (NGS) at the beginning of the financial year.
Earnings per share (EPS) and headline earnings per share (HEPS) were up 25% and 29% respectively.
SecureData reports a 41% growth in EBITDA, with all divisions contributing positively.
Working capital management has improved marginally with inventories remaining static around R7-million. Debtors days improved to 86 days from 94 days at the end of 2007.
Operating margins declined slightly to 19%, driven primarily by changes in the product mix and significant increases in employment-related costs.
Revenue growth in the second half is expected to slow slightly, but margins are expected to firm. The group expects to maintain EPS growth for  the full year at between 25% and 30%.