Better telecoms sector helps Jasco to return to interim profit
But the security and fire business’s revenue was flat while profit fell due to a lack of projects from major customers
Technology group Jasco Electronics said on Tuesday that it returned to profit in the six months ended December, thanks in part to higher spending in the telecommunications sector. “Against continued challenging market conditions, Jasco pleasingly met its commitment to improve its profitability,” it said. Interim headline earnings per share would be between 1.28c and 1.36c, compared to a headline loss per share of 0.89c a year before. Revenues grew between 3% and 4% from the R555.5m reported in the prior year. Jasco said information and communications technology (ICT) revenue and profitability “increased due to higher spend in the telecommunications sector, a good performance from the channel business and the first six-month contribution to revenue and operating profit from RAMM Technologies”. The security and fire business’s revenue was flat while profit fell due to a lack of projects from major customers. Revenue from power and renewables fell because of delays in securing new proj...
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