Pfungwa Serima

Metrofile attains positive growth over past year

March 6, 2017 • Breaking, Companies, Enterprise Solution, Featured, Finance & Banks, Finance and Banking, Innovation

Pfungwa Serima

Pfungwa Serima

JOHANNESBURG, (CAJ News) – METROFILE Holdings Limited, the Johannesburg Stock Exchange-listed market leader in records and information management, has reported positive growth results for the half year ended December 31, 2016.

Revenue increased by 1,6 percent to R380,7 million as headline earnings increased by 3,3 percent to R70,8 million.

Both headline earnings per share and basic earnings per share increased by 3,7 percent to 16,7 cents.

Cash generated by operations increased by 21,9 percent.

A total of R41,3 million in capital expenditure was incurred of which R39,6 million was utilised primarily for the expansion and upgrading of existing infrastructure.

The group’s net interest bearing debt amounted to R230,7 million at the period end, which equates to an annualised Debt: EBITDA ratio of approximately 0,9 times.

Pfungwa Serima, Chief Executive Officer of Metrofile, says that despite the adverse impact of weak economic conditions, Metrofile is growing steadily while expanding its base, refocusing businesses and implementing several growth initiatives.

“We have reported positively in South Africa and recorded double-digit revenue contributions to the Group from operations in the rest of Africa and the Middle East. We will continue to seek growth opportunities and pursue strategic acquisitions in targeted geographies,” says Serima.

Serima is confident in the Group’s growth and expansion plans.

Metrofile is well positioned to grow its existing businesses and to expand into Africa and Middle East, he said.

“We have a strong foothold and together with our positive interim results, Metrofile will continue to enhance its standing as a market leader,” says Serima.

– CAJ News

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