Pretoria, 28 May - Technology group IST, which recently reported a 275%
growth in earnings per share, is now firmly back on track and can be
expected to continue its performance improvement, says chairman Gary Morolo
in the annual report published today.
The positive effects of the Coronation FRM-led refocusing process have been
accompanied by encouraging signs of greater buoyancy in some of IST's key
markets, said Morolo.
"There has been a definite upturn in the previously low level of
infrastructure-related expenditure, particularly by parastatals. The group
is well-positioned to capitalise on this apparent recovery, not least
because continued investment in its intellectual capital base enables it to
provide sophisticated, value-added engineering systems and solutions to
major projects through the integration of advanced technologies," he said.
"A number of divisions have recently secured very sizable contracts and all
have embarked on the new financial year with healthy order books as well as
good prospects for future business. In this regard, it is particularly
pleasing to note that the group's operations are succeeding in their drive
to increase annuity income, which already accounts for a significant and
still growing proportion of their revenues.
"Considering that the group as a whole is now back on a sound strategic
track under effective leadership, the board has every confidence that the
improvement reflected in the past year's results will be sustained."
For further information call Harry Coetzee on
(012) 348 8705 or cell 082 881 9255
Issued by du Plessis Associates on behalf of IST Group. dPA contact : Kathy
du Plessis on tel :011-728-4701
mobile : 083 266 5847 or e-mail : ist@dpapr.com
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