The group reported profit after tax of R5.4m for the six months to September, a fourfold improvement from its loss of R2.4m in the same period last year
JSE-listed technology group Etion, previously known as Ansys, returned to profit in the six months to end-September having receiving a boost from aThe group on Wednesday reported profit after tax of R5.4m for the six months to September 2019, a fourfold improvement from its loss of R2.4m in the same period last year.
The group reported revenue of R308.6m, up 14.7% from R269.1m in the previous corresponding period, driven mainly by the impact of consolidating the results of the Etion Secure business for the period and increased revenue realised from the internationalisation strategy. The technology company said it has implemented measures to reduce costs, increase responsiveness to market conditions and to refocus business efforts to meet the challenge of thriving in the local landscape as well as growing international revenue.
Etion’s Digitise unit grew revenue to R22.3m, up from R14.8m compared with the same period last year. The 50% rise in revenue was due the rollover of revenue from the delivery of the Integrated Systems Display for a major client.
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