DataPro posts 227% profit increase
The company’s revenue increased 103% to R196m, while headline earnings a share were up 63% to 3,4c. CEO Douglas Reed attributed the positive results to the fact that the group was in a “high growth sector” and had made acquisitions during the year under review.
“And we also have a very strong sales force,” said Reed. He said these were the best results the group had delivered since inception in 1998. DataPro listed on AltX two years ago.
The group has been rapidly expanding and now has a market capitalisation of about R360m.
Reed said the group had doubled in size every year since the company’s inception. “We want to be the preferred opposition to Telkom so we have a long way to go to get the right critical mass and size. But that is what our ambition is,” he said.
DataPro announced last week it had planned a R380m deal to take over privately owned Orion Telecoms, a specialist in least-cost routing and callback communications.
Their combined strength would help both stand up to Telkom and other large, well-funded industry players that could cut their costs to protect their market positions, said DataPro last week.
DataPro said the year under review had been characterised by numerous acquisitions, growth across all its core businesses, improved operational efficiencies and a substantial increase in its customer base.
The group said @tlantic Internet Services, which focuses on the consumer market, had been successfully integrated into the DataPro Group.
This had resulted in an increase in its subscriber base from 35411 to 40512.
Other milestones this year, among other transactions, were the acquisition and integration of the data business of Netralink and the acquisition and integration of telecommunications solution provider BizCall.
The group had also established its service centre, a centralised help desk infrastructure to provide customer support across its entire corporate and consumer customer base.
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