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Africa helps boost Adapt IT’s turnover

By , IT in government editor
South Africa , 18 Aug 2014

Africa helps boost Adapt IT’s turnover

Adapt IT Holdings' African operations played their part in boosting the company's results for the year ended 30 June 2014.

According to the specialised IT solutions and services provider, its foreign business -- with a specific focus on the rest of the African continent -- contributed 25% to total turnover.

The Johannesburg Stock Exchange (JSE) listed company has operations in East Africa, Asia, Australasia, United States and Europe.

Adapt IT's total turnover increased 34% to R406,3 million compared to R303,4 million last year.

In terms of AdaptIT's turnover contributions, the education sector contributed 30%, manufacturing 37%, energy 17% and financial services 16%, a statement noted.

"Our growth has exceeded the ICT industry averages with 33,9% turnover growth, 55% headline earning per share growth and total shareholder returns of 332%. This has not only attracted additional institutional following, but increased shareholder confidence in Adapt IT and its development strategy," said Adapt IT chief executive officer, Sbu Shabalala, in a statement.

Adapt IT also acquired the Aquilon group of companies, which now forms part of the Adapt IT Energy sector.

"This acquisition has provided entry into the oil and gas industry, extending our SAP solution competence, introducing supply chain management solutions and offering Adapt IT excellent future growth potential," explained Shabalala.

Shabalala added, "We have an improved structure, a more diversified portfolio and are solidly positioned to unlock further organic growth combined with additional strategic acquisitions."

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