CAPE TOWN – Black-owned ICT group AYO Technology Solutions yesterday lifted its headline earnings per share 226 percent to 56.67 cents in the six months to February 28, 2019, on the back of strong performance and acquisitive growth.
The African Equity Empowerment Investments group associate declared an interim maiden dividend of 35c per share last year.
AYO chief executive Howard Plaatjes said organic growth, and from a large contract in July 2018, helped to drive a 93 percent increase in turnover to R675 million.
“Work on the contract is progressing very well, with positive feedback from the client, and AYO expects to obtain other large contracts as it builds on its platforms driven by its ‘Go to Market’ strategy,” said Plaatjes.
Tatenda Bundo, chief financial officer at AYO, said pre-tax profit surged by 226 percent to R267m.