Spescom reports that it has maintained turnover of R358,6-million with a 51% increase in services revenue for the year ended 30 September.

The company achieved a 10,5% increase in earnings before tax, a 24,5% increase in headline earnings per share to 12,7 cents and 26,8% increase in net asset value per share to 108,8 cents.
Media IT and Spescom Telecommunications maintained their positive trends from the first half of the financial year, dampening the effect of the slowdown which impacted the flow of new projects in Spescom DataVoice and Spescom DataFusion.
Gross profit for the Group grew by 3,5% to R175-million, supported by the increased services component. Operating profit before tax improved by 10,5% to R16-million despite inflationary pressures on wage costs imposed by ongoing shortages of skilled resources and a once off retrenchment cost of R2,2-million.
Attributable profit of R8,7-million was reported, while headline earnings per share improved by 24,5% to 12,7 cents.
The group achieved a 23,1% increase in cash generated from operations of R33,8-million, supported by the continued improvement in operating performance and judicious working capital management. Net finance charges of R398 000 as a result of lower gearing also contributed to the improved profitability. Cash and cash equivalents showed an increase of R21,5-million to R63,8 millio, with R16,6-million being invested to maintain operations.
Net asset value per share increased by 26,8% to 108,8 cents per share.