Cap­prec hits boom time

The New Age (Western Cape) - - Business - TNA REPORTER

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

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