SilverBridge diluted earnings at 7.56c from a loss of 16.93c

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.