Local IT services company GijimaAst looks set to continue its strong growth, with improved results on the cards for the 2007/8 financial year.
Yesterday, the company said that, while it finalises its results for the year ended 30 June 2008, it expects basic earnings per share to improve by between 100% and 115%, compared to the same period last year.
Headline earnings per share for the same period are expected to improve by between 100% and 115%.
However, the financial information has not been audited yet, or been reported on by the company's auditors.
GijimaAst's projections follow solid bottom line growth for the six months ended 31 December 2007.
Over the period, the company increased revenue by 18%, to R1.2 billion, while earnings per share (EPS) and headline EPS climbed 263% and 279%, respectively.
Presenting his second set of financial results earlier this year, CEO Jonas Bogoshi said GijimaAst's profitable revenue growth strategy was gaining traction.
"We've had a good period. We've improved our margins, further reduced cost structures, signed new deals and contract renewals in the public and private sector and got our client-centric structure embedded into the organisation," he commented.
At the time, Bogoshi and group FD Carlos Ferreira expected a stronger performance in the second half of the financial year.
"The market is buoyant and we continue to see growth in the industry. Our aim is to grow at double the industry standard," said Bogoshi.
Ferreira added the company still had some fat that could be cut, which - when added to the revenue increase from deals signed - would result in positive results for the full-year.
Related stories:
GijimaAst puzzles analysts
GijimaAst regains glory
Share