PBT optimistic amid data ‘explosion’ for businesses
Data specialist PBT Group remains optimistic as companies increasingly grapple with a need to handle more and more data, after reporting a double-digit rise in profit in its year to end-March.
Profit after tax from continuing operations rose 10% to R46m, with the group saying it was expanding its consulting base as data becomes increasingly essential to most aspects of business, such as marketing and planning.
“Client engagement and retention is no longer possible without near real-time access to data,” the group said.
The group, which provides data analytics and cloud-based infrastructure has in recent years signed strategic partnerships with European companies, saying that its revenue from Europe had surged 137% to €1.6m. However, that business posted a loss due to “the high cost of establishment in this region.”
The share price of PBT, which has a market capitalisation of R256m, has risen by a quarter so far in 2020, with the group saying it was seeking to establish new opportunities in the data services market — Covid-19 data being one example and client behaviour another.
Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.