AYO Technology Solutions is an Information and Communications Technology (ICT) company with a portfolio of services including Big Data analytics, systems integration, software development, cloud solutions, security and digital transformation.
The company’s history stems back to 1996, and the group became the largest listed black economic empowered ICT company in South Africa, when AYO Technology shares were put up for sale on the Johannesburg Stock Exchange (JSE) in December 2017, reaching a market cap of R14.7 billion.
The group today includes innovative and creative ICT solutions providers such as specialised integrated healthcare ICT solutions provider Health System Technologies, corporate data governance company Puleng Technologies, headset provider Headset Solutions, software consulting services companyAfrozaar, Microsoft software solutions company Digital Matter and digital transformation agency WWC.
AYO Shares Growth Driver
The group boasts a diversified portfolio of companies which have successfully capitalised on the demand for digital services in the modern era, especially from corporate organisations. The company’s board and management have also recognised that the group’s BEE credentials offer a significant competitive advantage, particular in a sector where black economic empowered companies are underrepresented.
Growth has been driven by a culture of both organic and acquisitive growth, and the group’s clients include a good combination of public and private sectors clients, including large multinational companies. The company also has strong value-adding reseller and supplier agreements, as well as a strategic relationship with BT Communications.
AYO’s latest financial data reflects impressive recent growth in terms of total asset value, which grew from R107million in 2016 to R292 million in 2017. This was mainly due to the purchase of a 57% stake in Puleng Technologies, and a 51% equity purchase of Kalula Communications, which trades as Headset Solutions.
Revenue performance was also strong, rising 183%, from R169 million to R478 million. An increase in operating expenses, as well as notably increased taxation, did however dampen total profit, which was down to R29 million from R33 million. Basic earnings per share therefore dropped from 15.32 cents to 7.86 cents. No dividends were declared to shareholders, with the board preferring to conserve cash in the face of the unstable global economic conditions. But with a strong group of subsidiary companies which have already established themselves in the ICT field, as well as stellar BEE credentials, AYO Technology should be able to chart a profitable path going forward, particularly when the positive impacts of the acquisitions begin filtering through.
AYO Group Investor Tip
Positivity surrounding the company was evident upon listing, when investors committed R5.3 billion for AYO shares, far exceeding the R4.3 billion that AYO aimed to raise. The live online stocks chart shows that AYO share price has enjoyed a strong rise of late, with investors eager to buy shares in this forward-looking, stable and highly promising company.
Investment analysts have forecast that AYO shares could well become a significant player in the JSE’s ICT sector going forward.
AYO Major Shareholders
African Equity Empowerment Investments (Pty) Ltd
Software and Computer Services
How to buy AYO Group Shares
AYO : How to buy AYO Group Shares Online
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