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Digicore has a record year

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Digicore has reported record revenues, up 55% to R685-million, for the year ended 30 June – underlining seven years of consistent growth

At the same time, attributable earnings rose 59% from R88-million in the previous year to R140-million for the current year.
The company has continued to seek opportunities in its chosen 36 international markets and this, combined with ongoing management focus on controlling overheads resulted in basic earnings per share increasing by 55% to 68,7 cents. Headline earnings per share increased 47% to 64,7 cents.
During the year, Digicore increased its shareholding in its UK subsidiary (DigiCore Ltd) from 50,1% to a wholly-owned subsidiary. The cost of the transaction was R42,2-million which was part settled in cash and shares.
Digicore's operating profit increased by 52% to R204-million from R135-million in 2007, remaining at an unchanged 30% mark of revenue for the year.
To support the operational growth, the company has continued to invest in the development of technology and staff complement.
Cash generated from operating activities increased by 117% from R52-million to R113-million at June 2008, while cash and cash equivalents increased by R49-million to R108-million.