ConvergeNet 2007 Annual Results meet expectations
Notwithstanding a relatively short trading period the ConvergeNet Holdings Limited Group of companies performed well and the results reported have met the Group's expectations. The short period is a result of the different periods related to the effective dates of control of the acquisitions the Group concluded. The revenue for the period was R 170.196 million and the operating profit was R 21.027 million. The earnings per share were 2.37 cents.
All of the operating businesses performed well and are well ahead of their respective results compared to the same period last year. As ConvergeNet (previously known as Vestor Investments) did not trade during 2006, any past comparison would not be relevant.
The management is confident that the prospects for the group are good.
