Metrofile Holdings has announced strong first half results with a 20% increase in headline earnings per share (HEPS) to 14.4 cents for the six months ended 31 December 2013, driven by a solid performance across the group.
Revenue increased by 11,5% to R314-million, while EBITDA rose 15,5% to R104,2-million. The group also announced a 55,6% increase in its interim dividend to 7 cents per share.
Graham Wackrill, CEO of Metrofile Holdings, says the results highlight the value of Metrofile’s strategy of expanding its services in the information management sector, through both innovation and acquisition; whilst continuing to focus on cross-selling the group’s diverse range of services to both new and existing customers.
The primary segment, Metrofile Records Management, had solid period, translating a revenue growth of 8% to an EBITDA growth of 12,1%. CSX Customer Services recovered from the comparative period, despite the weakening of the rand, with a 10,2% increase in revenue to R34,4-million.
An improvement in pulp paper prices and volumes assisted in growing revenue and profit at Rainbow Paper Management, while Cleardata also grew strongly, retaining its market leading position in confidential records destruction. Global Continuity has stabilised and new structures are in place giving the foundation to contribute to the group in the future.
He adds that, from an Africa perspective, Metrofile’s businesses in Mozambique continue to grow and all the required infrastructure has been installed in Nigeria.
“Metrofile is also exploring potential expansion opportunities in other African countries. Any expansion will be carefully considered, driven by the demand for the similar services to those provided by the group in South Africa, taking into account a number of factors including business and political environment, governance, language, infrastructure and potential client industries.
“We remain optimistic of future growth across all of Metrofile’s business units, inclusive of Africa, which will see a continuation of our growth in revenue, EBITDA, earnings and dividends,” Wackrill says.
