With the company in the middle of its three-year restructuring, results were favourable with a 12 percent increase in revenue, 22 percent increase in higher group revenue and 16 percent hike in orders.
“The group’s sales have improved through a focused performance and delivery culture and the start of cross-selling initiatives,” Pete da Silva, Chief Executive Officer at Jasco, said.
Da Silva is confident that the restructuring of Telecom Structures will ensure improvement in due time, while the group profitability reduction is due to delayed customer deliveries.
“We have taken decisive action on the non-performers that dragged profitability down, with Lighting Structures sold, Telecom Structures restructured and our investment in M-TEC under review,” he said.
Simplification of processes, closedown of legal entities and clarification of group structures are all underway to streamline group strategy.
“We have identified clear growth hurdles per business and will continue to divest of non-core assets,” Silva added.
The joint revenue performance percentages are as follow: ICT Carrier Solutions (48), ICT Enterprise Solutions (20), Industry Solutions (14), and Energy Solutions (18).
Jasco underwent an integration merge of ICT Solutions, Industry Solutions and Energy Solutions under one brand for incorporate business development focus last year. M-TEC, however, is now seen as a separate entity, having previously been included under the Energy Solutions department.