Alaris Holdings Limited released their financial year end results at an event at the JSE on Thursday, 26 September 2019.
The Group performed exceptionally well for the year ended 30 June 2019, resulting in an impressive profit increase of 25% from R32.9 million to R41.1 million.
Net cash flow from operating activities decreased by 41% from R43.8 million to R25.9 million. The decrease in cash is due to several projects that were completed and invoiced during June, but not yet due for payment in the 2019 financial year.
The Group’s cash position was R41.8 million on 30 June 2019 following the acquisition of mWAVE Industries LLC for a cash consideration of R30.2 million on 1 October 2018.
During this year, Alaris Antennas also managed to conclude projects in the second half of the year, which were delayed during the first half.
The Group’s active global expansion allows for an enhanced product and service offering, based on an extended knowledge spectrum across the subsidiaries. Not only do the Group’s customers benefit from access to highly skilled engineers across the globe, but the four companies are uniquely positioned to serve as trusted advisors in providing customers with technologically advanced and customised solutions.
Sustainable organic growth will remain a strategic priority for the Group, whilst operational activities are continuously aligned as the operations expand.
The companies in the Group are strongly focused on research and development, and hold invaluable, exploitable patented technologies that can be monetised into the future. Cross-selling opportunities and processes are in place to further capitalise on synergies between the subsidiaries.
The design and development of new products based on the uniquely combined skill sets of the four companies will continue to provide competitive features and enable increased performance for end users. All four segments relentlessly strive to provide their customers with a technological edge through constant product innovation and excellent service.
The Group’s global strategy remains one of bold international expansion. Prospects for the period ahead are decidedly positive. By diversifying into different territories and entering new market segments, the management team’s focus is to ensure ongoing profitable organic and acquisitive growth for the Alaris Holdings Group and its stakeholders.