Adapt IT has set its target on achieving R3bn revenue by 2020

Adapt IT has set its target on achieving R3bn revenue by 2020

JOHANNESBURG - JSE - listed software provider Adapt IT said last week that the success it had enjoyed over the past five years was enough motivation to spur it on to even greater heights in the future.

Chief executive Sbu Shabalala said he wanted the group to achieve R3billion revenue by the year 2020. In the interim results published last week Adapt IT achieved R674million revenue, an impressive 46percent increase.

It is this kind of increase that inspires confidence in the group and Shabalala believes the company is on the right track to achieve its vision.

“The outlook is positive as Adapt IT continues to build a software business that enables both our employees and our customers to achieve more.

"We have built a strong well-diversified foundation needed to create a sizeable leading software business that delivers above sector average growth and returns in line with our 2020 revenue target of R3bn,” Shabalala said.

He added that renewed business confidence in the country and the declining political uncertainty augured well for the business.

“We are achieving our targets. We are confident about the future of this business and the team behind it,” he said.

What happens when the 2020 vision is achieved?

“We are not going to rest on our laurels, but we are going to set new targets,” he said.

Adapt IT is a leading software provider to the education, manufacturing, energy, financial services and hospitality sectors, and servicing more than 10000 customers in 40 countries.

The group prides itself on being a diversified group and diversity has served it well so far. Its acquisition of Micros South African in July last year has added to that diversity.

Shabalala said Micros had made an instant contribution to the group’s earnings.

“The acquisitive growth contribution of 35percent comprised mainly of the Micros South Africa hospitality group acquisition, which was consolidated with effect from July 1, 2017,” he said.

Micros SA is a leader in providing world-class solutions for the hospitality industry. The group said Micros provided best-of-breed software solutions to more than 4200 customer sites in 18 countries.

Adapt IT shares gained 5.10percent on the JSE on Friday to close at R9.07.


Source: iol