Financials
Group audited results for the
year ended 30 June 2009
Click to view audited group results (PDF)
Commentary
Considering the severe downturn in the global economy, the board is relatively satisfied with the group’s overall performance. Following the strong performance of the first six months, our expectations of a performance in line with the previous financial year in the last six months of the review period simply did not materialise as business in our United Kingdom, European and South African markets recorded a severe slowdown. This was mainly due to external factors such as the strengthening of the Rand, the tender process in South Africa coming to a halt before and after the elections, and the banks’ severe tightening of credit supply for system financing, particularly in the small and medium enterprises (SME) sector.
The executive team is, however, confident that the balanced approach we maintained during the period between short-term profit and future growth will pay off when the economic recession abates. All DigiCore divisions were profitable and we did not retrench skilled and scarce staff members. In fact, we employed 18 more R&D engineers to enhance our hardware and software development capacity.
Although cost cutting and preserving cash were part of our focus, we rolled out two more Ctrack fitment centres.
On the international front, we continued our expansion strategy, establishing and enlarging our subsidiaries in France, Germany and Belgium to create a bigger self-owned distribution network in Europe.
More details in full report. Click here for PDF.
Archive
2009
Group audited results for the year ended 30 June 2009 (PDF)
2008
Group audited results for the year ended 30 June 2008 (PDF)
Group annual report 2008 (PDF)
2007
Group audited results for the year ended 30 June 2007 (PDF)
Group annual report 2007 (PDF)
2006
Group audited results for the year ended 30 June 2006 (PDF)
Group annual report 2006 (PDF)
2005
Group annual report 2005 (PDF)
2004
Group audited results for the year ended 30 June 20048 (PDF)
Group annual report 2004 (PDF)
2003
Group annual report 2003 (PDF)