JSE-listed EOH reported a 21% year-on-year increase in revenue to R7.24-billion for the six months ended January 31, while net profit increased by 29% year-on-year to R597-million.
Earnings a share and headline earnings a share grew by 23% and 22% respectively.
Cash increased by 32% to R2.05-billion, placing EOH in a strong financial position, with substantial cash resources to ensure sustainable future growth.
Speaking to Engineering News Online following a presentation of the company’s interim results, in Johannesburg, CEO Asher Bohbot said the positive results were attributable to growth across all divisions of the company.
“All segments of EOH’s offerings have shown substantial growth. Revenue from information technology (IT) services increased by 20%, software revenue increased by 33%, industrial technology revenue by 15%, business process outsourcing revenue by 15% and IT infrastructure by 26%,” he said.
Sales in South Africa accounted for 87% of total revenue for the period.
Services and software continued to be the dominant revenue drivers, accounting for 83% of revenue.
“What continues to drive growth is the development of new solutions, services and products delivered to existing customers and expansion into new territories to meet clients' needs.
"We have always strived to attract, develop and retain the best people in the industry to create mutually beneficial partnerships with our customers and partners,” Bohbot said.
He noted that EOH views its involvement in the public sector as both a responsibility and a business opportunity.
Through its range of smart government solutions, EOH is able to contribute to improving service delivery and intends to further increase its involvement in the public sector in the three tiers of government – national, provincial and local.
The company also believes that business has the responsibility to help solve the challenge of youth unemployment.
Looking ahead, Bohbot stated that the company’s future growth strategy would be based on both organic and inorganic expansion.
“EOH plans to add new products and services, continue its expansion into Africa and the Middle East and will further grow the distribution of its own niche software products internationally,” he said.