Primeserv has recorded a turnaround for the year ended June, delivering an operating profit of R2,2-million compared with an operating loss of R3,5-million for the previous year.
This resulted in a net profit for the year of R3-million compared with a loss of R8,54-million previously, and headline earnings per share of 0,26 cents compared with a loss per share of 7,31 cents last time around.
Group revenue, however, if Bathusi Staffing Services is included, was flat at R399,3-million.
No dividend was declared for the year.
Primeserv is a holding company with specialised subsidiary and associate operations aimed at meeting the human-resources needs of the South African corporate, industrial and government sectors.
Looking ahead, the group said it is committed to maximising organic growth while seeking to expand its product and service offerings.
“Acquisition opportunities that are in line with the group’s strategy will be sought and evaluated,” it said. “Where appropriate, further BEE [black economic empowerment] initiatives will be considered where this provides the group with increased market opportunities. The group anticipates an improved performance for the year ahead.” — I-Net Bridge