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GijimaAst reports strong growth

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GijimaAst has released its audited results for the year ended 30 June, with revenue ip 25% and profit climbing by 81%.

The group reports that revenue has increased by 25% to R2,5-billion; EBITDA is up by 70% to R204-million; operating profit has risen by 81% to R171-million; headline earnings per share are up by 111% to 11,7 cents; and dividend per share has increased by 133% to 3,5 cents.
GijimaAst is organised into two operating divisions, with 3 657 emplyees, and offers end-to-end infrastructure management and professional services.
Its 25% increase in revenue to R2 515-million (2007: R2 017 million) was driven by the 26% growth reported by managed services and 22% by professional
services. The application products business unit more than doubled its revenue for the year, while the networks and ERP business units also delivered excellent performance and GMSI continued to grow strongly in the international market.
The group states that further weakening of the rand during the year resulted in a significant foreign exchange translation gain of R48-million (2007: R13-million), mainly from foreign operations.
Reflecting the higher levels of activity, cash generated from operations before working capital changes increased by 93% to R167-million (2007: R87-million).