SecureData has confirmed that group revenue for the year ended 31 July 2009 was up 71% to R464,6-milion, compared to R271,3-million in 2008.
The company yesterday released its audited financial results.
EBITDA up 57% to R57,3-million and adjusted EPS was 11,7 cents per share, increased from 10,9 cents per share the previous year.
Dean Brazier, SecureData CEO, comments: "I believe this is a solid performance after a poor first half. Although the economic operating environment remains volatile, SecureData has historically proven to be resilient to the economic cycle. SecureData is firmly positioned to exploit its advantages in its selected markets."
During the year under review, SecureData continued its progress towards achieving its vision of becoming a significant provider of information risk management (IRM) solutions and services in the geographies in which it operates. Despite a weak first half performance, the group achieved very strong results in the second half to achieve a solid improvement over the comparative period of the previous financial year.
SecureData Africa markets and distributes IRM products in South Africa and across the rest of the continent.
After a period of operational decline the company launched a number of key initiatives in January 2009 with the view to improving performance at SecureData Africa.
Key among these were a senior management restructuring process, which included the appointment of Tony Nutter as MD, a detailed analysis of operating expenses and a complete product portfolio review.
The group continues to gain market share in the markets in which it trades, and has become a significant IRM presence in the Europe/Africa region. Debt levels have decreased to more comfortable levels and operating margins are improving. Cash and working capital management continue to be focus areas and the group remains cash generative.