CAPE TOWN: Adcorp Holdings lifted headline earnings per share by 58 percent to R2.98 a share in the year to February as the firm continued to cement market share in South Africa and expand globally. The human capital and workforce management group has started integration of the Kelly Group, which it acquired for R248 million this year, and expects that to be complete by the end of August.
The group said the rest of its South African business continued to perform well as it cautiously welcomed some certainty being achieved with regard to labour laws this year. During the period under review, Adcorp established a Singapore office, which will serve as the hub for the group’s international expansion.
It also concluded a strategic partnership with APBA, which offers services in various human resource functions in a number of Asian countries including Singapore, Hong Kong, China, Taiwan and Japan, during the year. Adcorp’s African operations, focused largely on mining, oil and gas exploration and related infrastructure development, continued to show good operational growth.
International operations now contribute a third of normalised profit with a target to increase that to 45 percent in the next year. A statement from the group said its cash performance had been outstanding during the year.
