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Cape Town, 20 December 2019 – JSE-Listed AYO Technology Solutions Limited (AYO), today announced its preliminary condensed consolidated financial results for the year ended 31 August 2019. AYO’s audit partners, BDO South Africa Incorporated, issued an unmodified reviewed opinion on the results. Despite the operating and economic challenges of 2019, AYO delivered a strong financial performance, posting significant increases in revenue and profit before tax, among other positives.
Commenting on the Group’s performance, Chief Executive Officer, Howard Plaatjes said: “These positive results are a testament to the tenacity and professionalism of our teams, as well as the excellent products and services the group companies continue to deliver to a wide range of local and international clients.”
- Revenue increased by 207% to R1.9 billion from R639 million in the prior year
- Profit before tax increased by 47% to R288 million from R196 million in the prior year
- Total assets increased by 11% to R5.2 billion from R4.7 billion in the prior year
- Earnings per share increased by 15% to 54.29 cents per share from 47.20 cents per share in the prior year
- Headline earnings per share increased by 11% to 53.53 cents per share from 48.32 cents per share in the prior year.
Please read the full statement December 2019 press release final