AYO delivers excellent interim results, setting a strong platform for growth

Published 15 May 2018, by a Staff Reporter 

JOHANNESBURG – JSE-listed AYO Technology Solutions Limited (AYO), one of South Africa’s largest black economic empowered ICT companies, today announced outstanding interim results to 28 February 2018, showing excellent revenue and profit growth for the period under review.

AYO is fully compliant with the new ICT BBBEE codes and has exceeded the minimum requirements.

Having successfully listed on 21 December 2017, AYO has effectively been listed for 2 months of the reporting period and in the 5 months to date has already shown excellent organic progress in delivering on its strategy presented in its pre-listing statement, issued on 13 December 2017 (“Pre-Listing Statement”).

Highlights 

  • Revenue increased by 49% from R234m to R349m
  • Operating profit increased by 55% from R29m to R45m
  • Profit before tax increased by 173% from R30m to R82m
  • Earnings per share increased by 111% from 8.37 cents to 17.68 cents
  • Headline earnings per share increased by 107% from 8.37 cents to 17.36 cents

Kevin Hardy, Chief Executive officer of AYO is confident in the Group’s performance saying, “I am exceptionally pleased with the interim financial results for the six months to 28 February 2018, especially since the company has only been listed for two months to this reporting date.  AYO is very firmly on track with its growth plans.

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