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CS Holdings doubles revenue

Announcing its annual results for the year ended 30 June 2002, JSE-listed CS Holdings has reported a 99% increase in revenue. According to CS Holdings CEO, Annette van der Laan, the company has performed well overall. "The company's success during these challenging times is a direct result of clear long-term strategy and tight fiscal controls. We have maintained a healthy balance sheet and strong cash flows which are carefully managed as a basis on which to grow the business organically in future."

The group has also announced that all strategic acquisitions have been successfully integrated. CS Holdings has made several investments during the latter half of 2001 and into 2002 that contribute to the vision of becoming the strategic business and IT solution partner of choice for its target markets.

Looking forward to the year ahead, van der Laan remains confident that the IT industry will continue to improve and is excited by the new opportunities. "CS Holdings has emerged as one of the big players in the market and will continue to compete head-on with other first-tier IT players in the South African market. Although we believe our share price does not reflect the true value of the Company, it has been exceptionally stable over the past two years compared to our competitors. Furthermore, a recent BMI-T survey confirmed that CS Holdings has gained considerable market share, especially at the high end of the market. This confirms that our strategy is working - and we will continue to focus aggressively on gaining ground on our competitors."

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