Adapt IT jumps as revenue spikes

Adapt IT was exploring acquisitive and organic growth in Cape Town to focus on providing software systems for the financial services and retail sectors, chief executive Sbu Shabalala said yesterday.

Adapt IT rose 8.57 percent to close at R1.90 yesterday after reporting a 53 percent spike in revenue to R135.9 million for the half year to December.

Shabalala said the software firm was “looking to set up a presence in east Africa… We are seeing a lot of growth out of Africa.” Profit before tax grew 54 percent to R14.3m. – Asha Speckman