EOH chief Asher Bohbot says the JSE-listed group reached critical mass in 2004.
Commenting on EOH`s results for the six months to January 2005, Bohbot says the R40 million empowerment deal that saw it merge with Mthombo IT Services, has made it a major player in the consulting, technology and outsourcing arena.
"We now have an empowered business in areas of broad-based equity, employee profile, board representation and operational management," he adds. "This will form the base from which we will continue to transform the organisation."
He says achieving critical mass in the past year will allow the business to achieve its vision of being the "number one business and technology solutions provider in Africa".
EOH achieved a 20.3% increase in net profit for the period, from R8.83 million for the same six months of the previous year, to R10.62 million. This was on the back of a 28.5% rise in revenue, from R146.37 million to R188.05 million.
Profit from operations reached R17.93 million (2004: R11.87 million) before goodwill amortisation of R1.39 million (R0.54 million). Post amortisation, profit of R16.54 million from operations compared with a previous profit of R11.33 million.
Earnings per share rose from 18.51c to 21.2c, while headline earnings were up from 19.64c a share to 23.98c a share.
Cash generated from trading operations was up from R14.05 million to R21.36 million, while cash generated from operations was flat at R30.4 million (R30.82 million).
The group`s net asset value stood at 149.08c (116.48c) a share at the end of the period.
The EOH share closed at 420c on the JSE yesterday, up 15c or 3.7% from the previous close. By midmorning today it had given up 5c to trade at 415c.
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