INFOTECH: Focus on Growth Delivers Strong Interim Results for Adapt IT
Recent Gauteng Business News
Adapt It makes Ground Through Tough Circumstances
In the reporting period, the Adapt IT Group was made up of three subsidiaries, namely Adapt IT (Pty) Limited, ITS Holdings (Pty) and ApplyIT (Pty) Limited, which provide a variety of specialised IT solutions and services across a range of business environments. Whilst the continued tough trading conditions in the sugar industry dampened the profitability of Adapt IT, ITS increased its revenue and profitability though a focus on the higher and further education sector and ApplyIT improved its performance through securing offshore clients in the resources sector.
Sbu Shabalala, CEO of Adapt IT Holdings says that the group is on track to deliver on its long-term strategy to bring sustainable returns to shareholders by focusing on a combination of organic and acquisitive growth. Subsequent to the reporting date, the group acquired 100% of BI Planning Services (Pty) Limited (BIPS) with effect from 1 January 2012. The acquisition of BIPS further strengthens the Groups value proposition to customers adding tailored Business Intelligence solutions for the Financial services, Healthcare, Telecommunications and other sectors.
Adapt IT Looking for More Acquisitions
Shabalala says that the group continues to seek further significant earnings enhancing acquisitions.
We continue to grow our footprint in various African and International markets and maximise shareholder value by keeping a tight focus on improving profit margins, seeking greater operational efficiencies and engaging positively with all our stakeholders at Adapt IT.
Business News Sector Tags: Infotech|