Tech and engineering group Ansys reaps benefits of acquisitions
Technology and engineering group Ansys nearly trebled its interim revenue and grew taxed profit eightfold thanks to its acquisitions in 2014. On Tuesday it posted interim revenue growth of 163.5% to R409m and taxed profit growth of 710% to R35m for the six months to September. These were its first results to include its acquisition Parsec and Redline Telecommunications. Ansys changed its financial year-end, so the matching period was the six months to August. The Ansys group is a black-owned technology company with businesses in rail, defence and information security, telecoms and mining locally and internationally. Parsec is a military communications specialist, and Redline provides wireless data infrastructure to large parts of southern Africa.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.