Adapt IT releases 2010 Annual Financial Results
The 2010 Financial year revenues increased by an impressive 169% to R208,5 million for the 16 months to June 2010, against R77,5 million for the year to February 2009, representing a 59% organic growth and R85 million in additional revenue attributable to the ITS Holdings acquisition with annuity revenue being a healthy 45% of total revenues.
 
The Group’s net profit attributable to ordinary shareholders increased by 44% to R13,1 million, against R9,1 million the previous year.  Earnings per share increased by 45% to 13,64 cents, from 9,44 cents the previous year, while headline earnings per share increased by 29% to 12,15 cents.
 
“The Adapt IT Group is positioned exceptionally well for future strong growth, in the medium-term, as it boasts strong cash flows and a healthy balance sheet.” adds Mr Siboniso Shabalala, the Group Finance Director.
 
Adapt IT has released its 2010 annual financial results