Capprec hits boom time
FINTECH company Capprec yesterday said revenue for the six months to September soared to R223.4m – from R39.7m last year– operating profit jumped 120% to R82.3m from R37.4m, total comprehensive income for the period climbed 124% to R60.1m from R26.9m, while headline earnings per share grew 87% to 4.02c a share from 2.15c. The company announced a maiden interim dividend of 2c per ordinary share.
The company said technology was evolving rapidly and its myriad applications are impacting almost all features of commerce, life and human behaviour.
“It is disrupting conventional patterns of conduct and processes, and progressively accelerating its reach into almost all professional, manufacturing, commercial, trading businesses, including lifestyle sectors everywhere. The same is true for its impact on the financial services sector,” Capprec said.
The prospects for future sector growth, not only in South Africa but globally, are strong, it said.
Capprec said its subsidiary and associate businesses are well capitalised, well managed and have highly skilled and competent technology specialists and the group is well positioned to participate in the FinTech revolution and, in many instances, could well play a leadership role in this process.
FinTech describes innovative and transformative technologies as disrupting traditional banking and financial services.
Financial and banking Institutions are rapidly embracing FinTech, recognising an opportunity to improve efficiency, reduce cost, enhance customer experience and drive revenue. – 701068