A good one to store if you can get hold of it

Financial Mail - Investors Monthly - - Analysis -

Metro­file has had a lot to deal with over the past few months. The doc­u­ment stor­age group is about to un­dergo a change in lead­er­ship, it is in the process of bed­ding down two ac­qui­si­tions and it is over­com­ing the in­ter­rup­tion caused by a fire at its KwaZulu-Natal fa­cil­ity.

With so much on its plate, it would be un­der­stand­able if it took its eye off the ball and its re­sults started to slip. Look­ing at the drop in earn­ings in its latest num­bers, you could very well make a case for this.

Rev­enue was up only 4% to R701,9m, op­er­at­ing profit de­clined 13% to R186,8m and profit be­fore tax dropped 17% to R173,7m for the year to end June.

These num­bers, how­ever, do not tell the whole story, as they leave out the pro­ceeds of a 36-month busi­ness in­ter­rup­tion in­sur­ance claim re­sult­ing from the fire.

When the in­sur­ance claim is in­cluded, rev­enue in­creases 14% to R720,9m, earn­ings be­fore in­ter­est, tax­a­tion, de­pre­ci­a­tion and amor­ti­sa­tion (Ebitda) rise

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