MB TECHNOLOGIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998 / 008964 / 06)
share code : MBT
ISIN : ZAE000015996
MB TECHNOLOGIES ON TARGET
MB Technologies, the JSE-listed international IT group, is comfortably on
target to maintain its historical growth rates in the current financial
year, the chairman, Mike McGrath, told shareholders at the annual general
meeting on Friday.
Making particular reference to the two US-based Internet investments, he
revealed that LiveTechnology made a good profit in the year ending December
2001 and has strong prospects for the current year. Systemsfusion was
benefiting strongly from the recovery in the US telco and web hosting space
markets, having closed four significant deals with major US telco's since
December 2001
McGrath said all the group's divisions had been achieving enhanced levels of
profitability since the close of the 2001 financial year, with MB
Technologies' benefiting significantly from its dollar based earnings as
well as from the increased Rand value of its dollar investments.
The European based point of sale company PC POS was trading ahead of budget
in US dollar terms, while the storage subsidiaries had gained good ground
and had concluded a number of lucrative new contracts.
McGrath said that Tarsus, MB Technologies' value-add distribution
subsidiary, had derived appreciable advantage from the demise of Siltek, its
former principal competitor. "Tarsus's revenues have risen sharply and the
company is showing a significant increase in profits when compared to the
previous year."
MB Technologies' interim results for the half year ending February, will be
released in April.
Ends
Issued by Meropa Communications on behalf of MB Technologies. For further
information :
MB Technologies
Leo Baxter, CEO 011 259 9500
Meropa Communications
Nicola Wilson 011 772 1000
Investor Relations
Meropa Communications
Tel: +27 (0) 11 772 1000
Direct: +27 (0) 11 772 1013
Fax: +27 (0) 11 772 1041
Mobile +27 (0) 83 701 3543
E-mail: nicolaw@meropa.co.za
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