Its revenue slipped marginally‚ to R82.247m from R82.576m and net profit for the year was R2.3m. No dividend or capital distribution was declared for the period.
Group revenue was flat‚ largely due to a decline in the implementation segment. Although implementation revenue declined‚ annuity revenue increased healthily.
SilverBridge says total costs dropped by 9% from a reduction in both direct costs and general overheads and more use of internal staff was made instead of engaging external contractors.
The company said the changing environment within its target market continued to present new opportunities as financial services searched for ways to reduce costs and improve service. The company's annual general meeting will be held on 25 October.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
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