Adapt IT turnover up 38% as acquisitions grow - CNBC Africa

Adapt IT turnover up 38% as acquisitions grow


by admin 0

Adapt IT turnover up 38% as acquisitions grow. PHOTO:

Organic growth contributed 11 per cent towards turnover while acquisitive growth at 27 per cent.

Profit from operations increased by 85 per cent to 37.9 million rand, reflecting a 14.5 per cent improvement in the company’s profit margin.

 “Adapt IT continues to realise synergies between its specialised software businesses to yield higher organic growth and margins. Further strategic, synergistic and earnings enhancing software business acquisitions will be pursued,” said [DATA ADI:Adapt IT Holdings LTD.] in a statement.

(READ MORE: Adapt IT's international expansion proves successful)

The company acquired the cloud telecommunications intelligence and management solutions provider AspiviaUnison in September last year for 200 million rand, which contributes towards Adapt IT’s financial services and manufacturing segments.

(READ MORE: Adapt IT acquires cloud telecommunications provider )

“Our outlook remains positive as we continue to build on the strong well diversified foundation which we have established to create a sizeable leading ICT business which delivers above sector average growth and returns,” continued the statement.