EOH dividend hiked on stellar results

Technology group hikes dividend by 32,6% to 70c/share on the back of solid financial results for the 2012 financial year ended 31 July.

Added by Duncan McLeod on 12 September 2012.
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Asher Bohbot

JSE-listed technology group EOH has turned in a particularly strong set of financial results for the year ended 31 July, lifting headline earnings per share by 29,1% on the back of a 50% increase in revenue to R3,6bn. It has declared a dividend of 70c/share.

Profit for the period increased by 50,3%, from R148,4m to R223,1m, driven by strong performances in infrastructure and application managed services, cloud computing, enterprise applications, information management, business process outsourcing, security and intelligent infrastructure.

The growth is attributable to a combination of organic growth and recent acquisitions, the company says. Acquisitions will be easier thanks to a 41% increase in cash to R451,9m.

In the 2012 financial year, service revenues increased to R2,3bn, up by 61% over 2011. Software sales rose by 28% to R614,9m, while infrastructure sales climbed by 39% to R683m. Margins rose to 9,8% from 9,6% previously.

CEO Asher Bohbot says he believes there are opportunities to grow EOH’s solutions and service offerings and to strengthen the company’s industry verticals. “We have the resources, track record, knowhow, ability and capability to continue to grow aggressively,” he says. “Prospects in the rest of Africa are encouraging and EOH sees opportunities in this territory.”

EOH’s share price has added 55% in the past 12 months.  — (c) 2012 NewsCentral Media

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