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Mon 3 Jan 2022
Close: 705c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Revenue for the year increased to R1.503 billion (2020: R1.483 billion) while profit from operations came in at R169.9 million (2020: R197.2 million). Profit for the year attributable to equity holders of the parent narrowed to R69.1 million (2020: R70.7 million). In addition, headline earnings per share came in at 56.21 cents per share (2020: 66.88 cents per share).
Dividend
The board has prioritised the reduction of borrowings and has remained prudent in preserving cash during these unprecedented times. Furthermore, the corporate activity in progress with the Volaris Group precludes a dividend, or would be adjusted for distributions and dividends, thus no dividend has been declared.
Company Prospects
The impacts of Covid-19 are likely to remain for the foreseeable future and Adapt IT continues to not only mitigate its adverse effects, but also to pursue growth and opportunities. The company will focus its efforts on extending the current solution offerings more broadly, enhancing new sales initiatives and carefully expanding the Pan Africa and Asia Pacific strategy. It will do so while ensuring excellent customer service, prudent capital allocation and ongoing cost containment, amongst other initiatives.
Notice of AGM
The integrated annual report will be mailed to shareholders on 8 October 2021 and will be available on the group’s website: www.adaptit.com on 28 September 2021.
The company is seeking dispensation from the JSE Ltd. (“JSE”) and the Companies Tribunal for the annual general meeting (“AGM”) to be held in quarter one of 2022. Shareholders will be notified of the AGM date in due course.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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