Elvey International, the major trading company within the Elvey Group which listed under the abbreviated name Elsec in the Electronics & Electrical sector of the JSE on 20 May has shown pleasing results for the year ended June 1999. Elvey is a one-stop service and product provider to the electronic security industry with a dominant market share and an extensive range of specialised products distributed on an exclusive basis.
The group achieved highly satisfactory results with turnover increasing by 29% and headline earnings up 49%. Turnover increased from R62 265 million for the year 1998 to R80 434 million for the year ended June 1999. Headline earnings increased from R3156 million for the year ended 1998 to R4707 million for the year ended June 1999.
Jack Edery, Elvey's Financial Director, attributes this increase to "conservative control of expenses, together with the dynamic marketing of products and services. In the five financial years from June 1994 to June 1998, net profit after tax increased by a remarkable percentage of 1168%. The latest audited figures show this trend continuing.
"New products and services distributed throughout the year included new models from various suppliers which set new benchmarks of price competitiveness, user-friendliness, as well as reporting capability and reliability. These helped to entrench the company's leadership position and increase market share," commented Edery.
"Apart from expanding our product range, Elvey International also formed a number of strategic alliances with local manufacturers of electronic security products which use Elvey's competent network to support and distribute its software-based electronic security products."
Imminent developments in the SmartWater range of forensic marking products, supported and distributed by Elvey International, are expected to contribute further to bottom line profits.
The security industry worldwide is poised for future growth and Elvey has taken advantage of this through Alarm Supplies, a company within the Elvey group, focused on managing franchise operations established with partners in Africa. To date, franchise operations have been established in Zimbabwe and Zambia. The Zimbabwean franchised produced record figures, trebling turnover in the year ended June 1999. The operation in Zambia, which began trading in January of this year, managed to return a healthy profit, making a solid contribution to the group's bottom line growth.
For details contact Paul Wainstein of Elvey Security tel: (011) 401 6700 or fax: (011) 401 6753.
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