|
EOH
EOH
EOH - EOH Holdings Limited - Reviewed interim results for the six months ended
31 January 2008
EOH Holdings Limited
Incorporated in the Republic of South Africa
(Company registration no: 1998/014669/06)
Share code: EOH ISIN: ZAE000071072
("EOH" or "the Group")
Reviewed interim results for the six months ended 31 January 2008
Revenue up 45%
PBT up 29%
EPS and HEPS up 21%
Cash up 36%
Group income statement
Reviewed Reviewed Audited
six months six months 12 months
to to to
31 January % 31 January 31 July
R`000 2008 change 2007 2007
Revenue 436 282 45 301 112 703 673
Profit before separately 39 353 31 579 71 631
disclosed items
Investment income 2 822 1 420 2 746
Finance costs (768) (750) (1 337)
Share of profits/ 250 (34) (102)
(losses) of associate
companies
Impairment of loan to - - (461)
associate company
Impairment of assets - - (131)
Profit before taxation 41 657 29 32 215 72 346
Taxation (14 786) (10 677) (23 199)
Profit after taxation 26 871 25 21 538 49 147
Attributable to:
Ordinary shareholders 26 763 21 538 49 038
Minority interests 108 - 109
26 871 21 538 49 147
Total shares in issue 73 255 72 216 72 554
Weighted average number 63 403 61 643 62 423
of shares in issue
Total diluted number of 70 892 68 848 70 571
shares
Earnings per share 42,4 21 34,9 78,7
(cents)
Diluted earnings per 37,9 21 31,3 69,6
share (cents)
Headline earnings
reconciliation
Profit after tax 26 763 21 538 49 038
attributable to ordinary
shareholders
Impairment of assets - - 184
Total taxation effects - - (53)
of adjustments
Total minority - - -
interest of
adjustments
Headline earnings 26 763 21 538 49 169
Headline earnings per 42,2 21 34,9 78,8
share (cents)
Diluted headline earnings 37,8 21 31,3 69,6
per share (cents)
Group cash flow statement
Reviewed Reviewed Audited
six months six months 12 months
to to to
31 January 31 January 31 July
R`000 2008 2007 2007
Net income before tax and 39 603 32 214 70 937
separately disclosed
items
Non-cash items 6 824 5 012 12 300
Working capital changes (32 078) (14 682) 836
Cash generated by 14 349 22 544 84 073
operating activities
Investment income 2 822 1 420 2 746
Finance costs (768) (750) (1 337)
Taxation paid (2 738) (13 788) (21 844)
Dividends paid (12 651) (8 693) (8 603)
Net cash inflow from 1 014 733 55 035
operating activities
Net cash outflow from (14 466) (16 210) (26 076)
investing activities
Net cash (outflow)/inflow (5 658) 633 670
from financing activities
Net movement in cash and (19 110) (14 844) 29 629
cash equivalents
Cash and cash equivalents 114 136 84 507 84 507
at beginning of period
Cash and cash equivalents 95 026 69 663 114 136
at end of period
Group balance sheet
Reviewed Reviewed Audited
31 January 31 January 31 July
R`000 2008 2007 2007
ASSETS
Non-current assets
Property, plant and 16 745 15 389 16 095
equipment
Intangible assets 102 893 104 433 96 460
Investment in 1 275 1 093 1 025
associate companies
Deferred taxation 12 557 6 347 11 750
assets
Current assets
Inventories 6 910 5 877 11 784
Loans receivable 3 354 867 2 651
Trade and other 195 052 152 325 164 758
receivables
Trade receivables 187 294 142 965 157 519
Other receivables 7 758 9 360 7 239
Bank balances and cash 95 970 74 024 114 136
Total assets 434 756 360 355 418 659
EQUITY AND LIABILITIES
Ordinary shareholders` 214 463 168 053 198 835
interest
Minority interests 386 278 278
Total equity 214 849 168 331 199 113
Non-current liabilities
Long-term loans 750 4 536 6 929
Deferred taxation 3 925 2 481 2 720
liabilities
Current liabilities
Trade and other 154 058 128 890 151 594
liabilities
Vendors for 6 986 24 075 7 711
acquisition
Deferred revenue 29 386 25 128 38 674
Taxation payable 23 858 2 553 11 918
Bank overdraft 944 4 361 -
Total equity and 434 756 360 355 418 659
liabilities
Net asset value per share 292,8 232,7 274,1
(cents)
Group statement of changes in equity
Share Share
R`000 capital premium Reserves
Audited balance at 1 August 2006 604 40 792 9 532
Movement in treasury shares 2 845 55
The effects of consolidating the 2 232 (280)
EOH Share Trust
Currency translation - - 4
Profit for the period - - 2 570
Dividends - - -
Issue of share capital 17 1 538 -
Reviewed balance at 31 January 2007 625 43 407 11 881
Movement in treasury shares 3 1 823 350
The effects of consolidating the 1 99 (880)
EOH Share Trust
Acquisition of subsidiary company - - -
Currency translation - - (4)
Profit for the period - - 1 007
Issue of share capital 3 512 -
Audited balance at 31 July 2007 632 45 841 12 354
Movement in treasury shares 1 642 (3 785)
Currency translation - - -
Profit for the period - - 3 967
Dividends - - -
Issue of share capital 7 690 -
Reviewed balance at 31 January 2008 640 47 173 12 536
Retained Minority Total
R`000 earnings interests equity
Audited balance at 1 August 2006 99 557 - 150 485
Movement in treasury shares - - 902
The effects of consolidating the - - (46)
EOH Share Trust
Currency translation - - 4
Profit for the period 21 538 - 24 108
Dividends (8 677) - (8 677)
Issue of share capital - - 1 555
Reviewed balance at 31 January 2007 112 418 - 168 331
Movement in treasury shares - - 2 176
The effects of consolidating the - - (780)
EOH Share Trust
Acquisition of subsidiary company - 169 169
Currency translation - - (4)
Profit for the period 27 590 109 28 706
Issue of share capital - - 515
Audited balance at 31 July 2007 140 008 278 199 113
Movement in treasury shares - - (3 142)
Currency translation (6) - (6)
Profit for the period 26 763 108 30 838
Dividends (12 651) - (12 651)
Issue of share capital - - 697
Reviewed balance at 31 January 2008 154 114 386 214 849
Commentary
VISION
The EOH vision is to be the best technology and business solutions company to
work for, partner with and invest in.
GROUP PROFILE
EOH is a technology and business solutions provider creating lifelong
partnerships by developing business and IT strategies, supplying and
implementing solutions and managing enterprise-wide business systems and
processes for medium to large clients.
EOH operates as a fully integrated business in the following three broad areas
of business:
Technology - through a number of businesses, EOH is able to sell, implement and
support a range of world-class business applications including: ERP, CRM,
Business Intelligence, Advanced Planning and Scheduling, e-Commerce,
Manufacturing Executions Systems (MES) and Technology Performance Management
Solutions.
Consulting - operates in the private and public sector offering services ranging
from strategic process consulting, project services, change management and
education. This cluster also develops IT strategy, advises on enterprise
architecture, IT governance and risk management.
Outsourcing - EOH offers comprehensive maintenance and support to clients` IT
infrastructure and applications through the rendering of full IT Outsourcing,
Applications Hosting and Managed Services as well as desktop support services
and the provision of onsite resources.
EOH has a presence in all major centres in South Africa and also operates
elsewhere in Africa.
BASIS OF PREPARATION
These interim results are prepared in accordance with International Financial
Reporting Standards, International Accounting Standard (IAS 34 - Interim
Financial Reporting) and the South African Companies Act, 1973. The accounting
policies are consistent with previous years.
The Group`s auditors, IAPA Johannesburg, Chartered Accountants (SA), have
reviewed the financial information for the six months ended 31 January 2008 and
their unmodified report is available for inspection at the registered office of
EOH.
FINANCIAL RESULTS
The Board is satisfied with the performance for the period under review. The
strong growth is mainly organic complemented by recently acquired businesses.
Earnings remain healthy with growth continuing to be funded internally. Cash on
hand remains significant.
FUTURE PLANS
EOH is a major player in the technology, consulting and outsourcing space and
these offerings are enhanced by its ability to deliver effective `end to end`
solutions to its clients. These will now include the provision of infrastructure
and support, hosting and networking and the provision of interim skills. These
additional offerings will enable EOH to form long-term strategic outsourcing
partnerships with existing and new customers.
EOH has embarked on adding another dimension to its offering, that of industry
expertise, in order to enhance value to its clients. EOH is building knowledge
and business acumen focusing on five industries, namely Mining, Manufacturing,
Financial Services, Telecommunications and the Public Sector.
EOH is adopting a global mindset and is setting up an office in the United
Kingdom where the company will offer some of the locally offered products and
services. EOH is in a good position to capitalise on its existing partnerships
with major international technology players, its skills base and its proven
business model.
The wide range of solutions offered to various industries in both the public and
private sector, together with its strong management team and financial strength,
positions it well for future growth. EOH`s growth strategy remains focused on
organic growth, supplemented by strategic acquisitions.
TRANSFORMATION
EOH has a 33,4% effective black ownership, involving all of our black employees.
Of the Group`s 1 300 employees, 40% are black, as is 50% of our board. We are
committed to transformation as an ongoing process, with all our people and
stakeholders involved.
DIVIDENDS
It is the Group`s practice to declare dividends at the end of the financial
year. A dividend of 20,0 cents per share was paid to shareholders during October
2007.
Asher Bohbot
Chief Executive Officer
18 March 2008
REGISTERED OFFICE
Block D, Gillooly`s View, 1 Osborne Lane, Bedfordview, 2008
Tel: (011) 607 8100, Fax: (011) 616 9929
website: www.eoh.co.za, e-mail: info@eoh.co.za
DIRECTORS
Dr Mathews Phosa (Non-executive Chairman),
Asher Bohbot (Chief Executive Officer), Rob Sporen (Non-executive) (Dutch),
Lucky Khumalo, Jane Thomson, Ken Cullinan,
Dion Ramoo, Nkosinathi Khumalo, John King,
Prof. Tshilidzi Marwala (Non-executive)
COMPANY SECRETARY
Adri Els
For further information, please contact John King on the above numbers.
Systems make it possible...
People make it happen!
Sponsor
Merchant Sponsors Propriety Limited
Date: 18/03/2008 08:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
