Adapt IT - Acquisitions Give Full-year Profit a Lift2015-12-08 ADAPT IT yesterday said it grew organically and through acquisitions in the year to June as it reported profit of R58 million, up from R38m in the corresponding period last time. The provider of specialised turnkey IT solutions and services to the education, mining, manufacturing, financial services and energy sectors said profit from operations (which is before tax of R27m and other deductions) increased by 89 percent to R93.8m, with an improved operating profit margin of 16 percent. The company said turnover for the year rose 42 percent to R575m, with organic growth at 18 percent and acquisitive growth at 24 percent. Adapt IT noted its acquisition of local telecoms software provider Aspivia.Unison during the period under review, as well as the smaller offshore acquisition of Student Management Software Systems in New Zealand. Headline earnings a share came in at 46.54c, 35 percent better than the 34.55c recorded the year before. Adapt IT shares lost 0.5 percent to close at R9.95 on the JSE yesterday. â€" ANA
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Adapt IT - Acquisitions Give Full-year Profit a Lift
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