4Sight Holdings Reports 16.9% Revenue Increase

0

The multi-national diversified technology group 4Sight Holdings, which re-domiciled its operations from Mauritius to South Africa at the start of the year, jumped 14% on the JSE as the group recorded growth of 16.9% of its revenues during the six-month period ended June 2021..

Later in the day, the stock closed 4.76% higher at R 0.22 on the JSE yesterday

4Sight said that the 16.9% increase in revenue to Rand 291.1 million from Rand 249.1 million during the same period in 2020 demonstrates the strength of the diversified growth profile. He said major initiatives included implementing an account-based marketing strategy with an intentional approach to identifying and interacting with top accounts using personalized shopping experiences.

The group has also segmented customers with a targeted concentration for each level.

Revenue, excluding consulting revenue, increased 24.3% from Rand 169.7 million to Rand 211 million, which contributed to the cost of sales increase of 26.9 million. % from Rand 118.8 million to Rand 150.7 million. “Gross profit rose 7.8% from Rand 130.3 million to Rand 140.5 million and gross profit margin fell to 48.2% in June 2021 from 52.3% in June 2020 “the group said.

The decrease in other income of Rand 50.7 million includes Rand 37.6 million related to recaptured employment tax incentives, foreign exchange gains of Rand 11.1 million on deferred trade payables settled during the year. previous period and the profit of 3.1 million rand on the disposal of a subsidiary.

Total operating expenses for continuing operations for the period decreased to Rand 136.3 million from the previous year.

The group changed its presentation currency from US dollar to rand with effect from January.

“Following the fact that the South African Rand is the predominant currency of the group, representing more than 99% of the group’s net cash flow, coupled with the fact that the group’s shareholder base is now largely made up of South African investors. for whom financial information in US dollars is of limited relevance and the board of directors also bases its assessment of performance and many investment decisions on the financial information of the South African rand, the group has changed its currency introduction of the US dollar to the rand starting Jan. 1, ”the group said.

[email protected]

BUSINESS REPORT

Share.

About Author

Leave A Reply