Jasco posts increase of 164% in HEPS

Jasco Electronics Holdings has reported a significant improvement in its financial results for the full year ended, with highlights including a maintained revenue close to 1.1 billion round, a 46% increase in profit before interest and tax, a 119% increase in profit after tax, a 116% increase in earnings per share, and a striking 164% surge in headline earnings per share. In a recent interview with CNBC Africa, Pete da Silva, Jasco CEO, discussed the company's performance and strategies for the future amidst challenging economic conditions. Da Silva attributed the positive financial outcomes to a strong first half of the financial year, followed by challenges in the second half due to a lack of confidence in the South African economy and volatile exchange rates. Despite these difficulties, Jasco remains optimistic and is looking towards international markets for growth opportunities. Da Silva highlighted the company's expansion into East Africa and the Middle East, where demand for Jasco's products and services is on the rise. The CEO emphasized the importance of investing in local talent and developing strong relationships within the communities they operate in, likening the approach to 'farming' rather than 'hunting.' Additionally, Da Silva discussed the growth of the company's Intelligent Technologies division, which now accounts for 18% of group revenue and is driving value for Jasco. Looking ahead, Da Silva emphasized the need for collaboration between government and business to build confidence in the South African economy and stimulate growth across industries, including Jasco. The CEO remains cautiously optimistic about the future, noting that continuous efforts to foster confidence and expand into new markets will be key to sustaining Jasco's growth and success.