Soaring demand for IT security supports solid maiden results from SecureData.

October 99 News

IT security provider SecureData has reported maiden interims in line with expectations and said it was on track to meet its listing forecast for full-year earnings, thanks to growing concern about computer fraud and viruses.

The company reported headline earnings of R1,8 million on a R10 million turnover for the six months to June and said that given SecureData's sound growth prospects, its first-year earnings-per-share target of 5,13 cents would be achieved. The half-year results show a strong balance sheet with minimal interest-bearing liabilities and some R6 million in cash.

Listed in November last year, SecureData provides holistic IT security solutions at desktop, network and Internet levels through a comprehensive spectrum of products and services. These range from anti-virus remedies through firewalls and secure routers to computer-related crime investigations.

"It is generally acknowledged that IT security risks are rising at a rate of 70% worldwide. Awareness of these risks is also increasing rapidly, and was boosted during the period under review by the publicity given to devastating new computer viruses, proliferating computer fraud and the implications of the Internet's explosive growth," said SecureData Managing Director Paul Dinsmore.

"This was reflected by the high demand for our Trend antivirus suite of products, as well as for our value-added technical support, consulting, data recovery and computer crime services. All our divisions consequently contributed positively to earnings."

Dinsmore said SecureData was well entrenched in its market niche and soundly positioned to exploit the opportunities being created by the rapid growth in demand for IT security. During the past year, SecureData had employed additional resources to expand its technical proficiency and enhance its expansion capabilities.

For details contact Lou Morris or Stan Melnick on tel: (011) 802 8800 or fax: (011) 802 3959.

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