Simeka Business Group has turned in annual results that show revenue, EBIDTA and cash all substantially up on last year, but decreased earnings per share.
The group's revenue for the 12 months to 31 May increased 30% to R757,07-million, while EBIDTA was up 29%. Cash flow from operations was 30% better than last year, and the net tangible asset value per share was up 127%.
Headline earnings amounted to R57,8-million.
Following the prior year acquisitions and the merger with SAB&T Ubuntu Holdings Limited (SUHL) at the start of the year, Simeka intensified focus on organic growth and rationalised operations for improved operating efficiencies.
The still robust pipeline of secure contracts and the group's diversified services offering proved to be effective in mitigating the difficult trading conditions.
In its South Africa operations, the global slowdown affected Matomo Technologies, which suffered a reduction in sales volumes of desktops but subsequently saw an uptick in volumes. Issues at Cybernet Africa Logistics and SUHL's consulting business have been addressed and they are expected to start operating at their former levels.
The group as a whole continued to perform well and Simeka expects further to see good growth in its mobile technology applications, with keen interest being shown from various industries.