Metrofile has announced it will pay a final gross cash dividend of eight cents per share in respect of the year ended 30 June 2014 – a 36,4% increase from 2013.In addition, the continued improvements in the group’s financial structure and cash flows have enabled the Board to maintain a healthy dividend cover, for the full year, of approximately 2 times whilst simultaneously reducing net debt.
Revenue increased by 14,4% to R675,3-million, EBITDA by 34,9% to R252,9-million and EBIT by 39,2% to R222,4-million.
The results are however exaggerated due the insurance proceeds in respect of the fire experienced, in October 2013, by the Metrofile Records Management business. Normalised earnings per share increased by 17,3%, while normalized EBITDA increased 13,1% to R212-million.
Graham Wackrill, CEO of Metrofile Holdings Limited, says our strategy is aligned to the continued requirement for businesses to manage all types of records, both active and archived, whether they be in physical or digital format. “The regulatory and compliance environment makes it an imperative for businesses of all sizes, regardless of industry, to enhance their processes with regards to records of all types.”
We remain focused on cross selling the group’s diverse range of services to both new and existing customers whilst innovating and targeting relevant acquisitions, says Wackrill.
He says amongst the highlights for the year, was the Cleardata business, which continued to experience strong growth due to the increased demand for confidential destruction services, whilst the Rainbow Paper Management business had a strong year with the introduction of exports. “We believe the implementation of the Protection of Personal Information Act will support further growth in these business units as well as the core Metrofile Records Management division.”
The group is also confident of the prospects for the CSX Customer Services and Global Continuity businesses.
Wackrill says Metrofile’s geographical expansion into Africa and the Middle East remains driven by demand of both existing and new customers that have need for similar services to those received in South Africa.
“The Mozambique business continues to deliver whilst the Nigerian business is now fully operational but as expected ran at losses for the first year as it is a green fields operation. Several key contracts have been signed and the focus going forward is on growing the customer base,” says Wackrill.
“With Metrofile now established in Mozambique and Nigeria, the expansion into three other African countries and the Middle East is the focus for 2015. Several new offerings, the securing of contracts and the African and Middle East expansions have Metrofile well positioned for the year ahead,” concludes Wackrill.
