JSE-listed technology group Ansys, which has rebranded itself as Etion, is considering setting up offices in Australasia and western Europe as part of its efforts to grow international revenues. CEO Teddy Daka said that the group wanted to reduce its presence in the South African market, which slowed materially in Etion’s financial year to March. Weaker business confidence resulted in a slowdown in SA’s fibre-network roll-out, particularly in the second half of its year, and this contributed to a 29% fall in Etion’s revenues to R573m as net profit halved to R33m, the group said on Wednesday. Etion provides passive connectivity infrastructure to network operators. Daka said Etion, which recently bought information technology developer and cybersecurity firm LawTrust for R109m, wanted to establish sales offices in new markets to sell its cybersecurity and other products. "Australasia is one area we are looking at. We already have a presence in the Middle East, and we’re also thinking ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now