Least-cost routing company TeleMasters gained a new client in the first quarter of its financial year, which aided revenue growth.
The company yesterday reported its quarterly interim figures and said revenue moved from R62.9 million to R86 million in the three months to December. However, profit after tax grew marginally to R3.4 million from R3.2 million during the same period.
Basic earnings per share moved to 8.05c from 7.57c, while headline earnings per share were marginally higher at 8c a share, from 7.57c.
TeleMasters says it signed up a new temporary contract with an unnamed customer in October, which runs on a month-to-month basis. During the quarter to December, the customer accounted for R27 million of TeleMasters’ revenue.
TeleMasters competes against companies such as the Huge Group, Vox’s Orion subsidiary, Nashua Mobile and Altech Autopage in the least-cost routing arena. The sector has been under strain since the interconnect rate was decreased.
The least-cost routing company is in the process of delisting from the JSE, because it does not need to raise capital and its shares are thinly traded.
The company made the delisting announcement in December, but has not provided shareholders with an update via the Stock Exchange News Service since then.
TeleMasters’ interim results for the second quarter and six months to March will be announced on 24 June. Its shares closed 1c down yesterday, at R1.