IT company Business Connexion's share price rises
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Our share price closed 2.02% higher at R5.05 and our headline earnings a share rose to 39c for the year to August from 17.3c last year.
Revenue grew 35.1% to R5.8-billion and gross profit margins increased from 30.9% to 31.5% thanks to acquisitions of Canoa and UCS businesses.
Business Connexion has also entered into an agreement to acquire privately owned technology management company Integr8 IT for R126-million.
The acquisition would provide Business Connexion with an entry into the mid-sized corporate market throughout South Africa and Africa.
In addition, Integr8 IT is expected to enhance Business Connexion's ability to win market share in the public sector, in the rest of Africa and store environments in the retail sector where this acquisition will add to the services provided by Business Connexion subsidiary, CEB Maintenance.
Although the company had a "great year", the market was still "challenging".
All key businesses performed well and are profitable, including the technology unit. The acquisitions have also delivered and exceeded expectations.
The UCS division contributed about R1.1-billion to Business Connexion revenue, with an operating profit of R116.9-million whereas the Canoa division contributed R860.5-million in revenue and R106.5-million in operating profit.
For all the services offered by Business Connexion visit http://www.bcx.co.za/
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