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Adcorp appoints CFO

Companies

Johannesburg – Listed workforce management company Adcorp has appointed Cheryl-Jane Kujenga as CFO with effect from July.

The company says in a statement on Tuesday that Kujenga is a CA (SA).

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Adcorp website. Picture : Nicholas Rama

It notes she has 20 years’ commercial experience with the previous nine years having been spent as a partner at EY.

“At EY, she has been involved in an advisory capacity to various industries including technology, telecommunications, manufacturing, infrastructure, retail, healthcare and financial services and also served on the Accounting Standards Board (South Africa) for six years.”

In October last year, Adcorp said Anthony Sher, who had been with the company since 2009, would resign as CFO.

Last May, the company said, in the year to February, it had grown revenue 17 percent to R15.6 billion. Normalised earnings per share were 365.3 cents, 4 percent ahead of the previous corresponding year.

Read also: Adcorp unscathed by labour law changes

However, normalised earnings before interest, tax, depreciation and amortisation (EBITDA) of R621.5 million were 7 percent below the prior year’s comparable figure of R668.5 million, which Adcorp said reflects a tougher trading environment and lower sales volumes during the financial year.

Adcorp also acquired the business of Kelly Group in the prior financial year.

BUSINESS REPORT ONLINE

 

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