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AdaptIT shows strong growth

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AdaptIT has reported revenue growth of 37% for the six months ended 31 August 2008, to R4,2-millio, while earnings per share grew by 23% to 4.36 cents per share compared to the same period last year.

ApplyIT contributed a profit of R1,2-million to the group; Adapt-IT contributed a profit of R0,5-million to the group; and Isizinda Consulting, a subsidiary acquired as part of the merger, contributed a profit of R0,3-million.
During the period the group repurchased 2 096 111 shares at an average price of 51.72 cents, while 1 813 911 treasury shares are held by a subsidiary and the
remainder were issued to staff in terms of the share option scheme.
According to a statement, the Group`s strategic objectives are to increase operational efficiency, defend current markets, pursue organic growth, and pursue acquisitive growth into new markets.