News

South African JSE-listed enterprise software and services provider Adapt IT has capitalised on its year of 'introspection and consolidation' and increased its revenue by 14% to R1,438-billion, comprising 5% organic growth from continuing operations and 9% from acquisitions....Read More

Listed technology group Adapt IT is improving its governance processes after allegations of tender irregularities have rocked some of its rivals....Read More

Adapt IT, the listed technology business, will focus on bringing down its debt levels in the coming months after its net gearing ratio rose to 65 per cent. The software services group reported an 8 per cent fall in headline earnings per share to 57.27 cents for the year ended June 30, 2019. The company says revenue growth comprised of 5 per cent organic growth from continuing operations and 9 per cent from acquisitions. Adapt IT CEO, Sbu Shabalala joins CNBC Africa for more....Read More

On the 28th of September 2019, computer science students from Wits University Johannesburg, South Africa, participated in the Adapt IT | Telecoms Social Good Hackathon. The students had 10 hours to build a FINTECH Solution using code and epic brain matter. This included building a "Taxi Money" project where they made use of a mobile wallet and QR codes to exchange money in the system. They also got a chance to play the role of a Bank, User-Agent and Service Provider. Towards the end of the event, Adapt IT awarded two students vacation work. These two lucky students will get mentored and get a chance to be a part of the Adapt IT team. I would like to give special thanks to Ndamu Gumane for all this effort and hard work in organizing this event. We look forward to the next one…...Read More

The Education Business division of the Johannesburg Stock Exchange-listed leading specialised software provider, Adapt IT, today announced a partnership with i-Chain, a fixed asset management services and solutions company from South Africa. The partnership is aimed at providing a Web-based system that offers easy access to a cloud-based environment, allowing education institutions to manage their assets....Read More

Adapt IT interim results 31 December 2018 Turnover for the interim period decreased to R667.2 million (2017: R676.2 million), gross profit increased to R405.8 million (2017: R392.5 million), profit from operations rose to R86.3 million (2017: R86.2 million), profit attributable to equity holders of the parent lowered to R45.1 million (2017: R47.5 million), while headline earnings per share grew to 29.89 cents per share (2017: 29.70 cents per share).DividendOrdinary dividend number 16, in respect of the year ended 30 June 2018, of 17.10 cents per share on a four times dividend cover ratio, was paid to shareholders on 25 September 2018. It is AdaptIT's policy to declare a dividend after financial year end and not at the interim reporting date.OutlookDespite the current market conditions, our medium and longer-term outlook is optimistic as we continue to build upon the strong foundation we have established to create a sizeable, scalable, leading ICT business....Read More