4Sight beats forecasts with maiden results


4Sight beats forecasts with maiden results

Published Date: 2018-03-27 | Source: Stephen Gunnion | Author: Stephen Gunnion

4Sight beats forecasts with maiden results

A spate of acquisitions has fuelled higher revenue and profit at the technology investment group

4Sight Holdings has beaten its pre-listing forecasts with its maiden results, helped by a spate of acquisitions.

The new age technology investment group has reported revenue of $12 million for the six months ended December, with gross profit of $9.4 million and net profit of $1.83 million. That resulted in earnings per share of 0.51 US cents and headline earnings per share of 0.5 US cents, beating its forecast by 39% and 38% respectively.

Forecasts in its original prospectus only included its telecommunications, media and property businesses. However, since listing it has concluded a number of other deals to expand into mining, manufacturing and data analytics. Acquisitions include BluESP and Age Technology, both bought last October, and January's purchase of Foursight Holdings and subsidiaries Visualities, Casewise and Fleek Consulting.

In a trading update earlier this month it also revised its 2018 forecasts sharply higher due to the larger operating base. Since then, it has announced the acquisition of 100% of health and wellness company Curo Health, which will form the base for a health technology division. It will pay up to R21.8 million for the business.

Its shares closed unchanged at R1.40 yesterday 4sight but jumped 23% on 9 March when it issued a revised profit forecast for the year.

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