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IOL News
4 days ago
- Business
- IOL News
AYO Technology Solutions' half-year results show progress despite challenges
AYO Technology Solutions' results for the six months to February 28 showed a resilient performance under difficult conditions, and the company is on track to reduce losses compared to the prior full year, Image: Independent Media File JSE-listed black-owned ICT company AYO Technology Solutions, which has received an offer from Sekunjalo Investments to acquire all its shares, said Friday its full-year results are expected to show a meaningful reduction in losses compared to the loss reported for the first half. AYO's results for the six months to February 28 showed a resilient performance under difficult conditions, and the company was on track with a clear path toward significantly reducing losses compared to the prior full year, its directors said Friday evening. Revenue fell by 23% mainly due to the absence of one-time contracts from the previous year, as well as the unwinding of certain contracts that had contributed to prior-year revenue, but were not repeated. On a positive note, the cost of sales fell 24%, in line with lower revenue. Improved inventory management and pricing strategies led to a 1.5% increase in gross profit margin, rising from 16.5% to 18%. Operating expenses were reduced by 2%, reflecting a disciplined approach to cost control. This reduction would have been even greater if not for certain non-recurring expenses emanating from a VAT write-off of R6 million and impairment of some receivables of R13m. Excluding these one-off costs, operating expenses showed a more substantial decline of 11%. When adjusting for these exceptional items, the operating loss improved significantly, demonstrating progress in underlying profitability. The interim dividend was passed. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Finance income decreased to R37m from R58m in the prior year, as cash reserves were utilised to support operations. The loss before tax, however, widened by 36%, largely due to higher credit losses on loans receivable and weaker performance from equity-accounted investments in the first half of the year compared to the same period last year. 'Despite these challenges, the focus on cost management and operational efficiency has positioned it for a stronger second half,' the directors said. Revenue decreased by 23% to R78m from R1.02 billion in the prior corresponding financial period. The loss per share increased by 37% to 45.09 cents per share from 32.92 cents per share in the prior corresponding financial period. The software and consulting services division, which focuses on providing scalable digital solutions to retailers, media groups and brand agencies in Africa and Europe, grew revenue by 21%, driven primarily by new customer acquisitions in Digital Matter. While the division's gross profit margin saw a slight decrease from 30% to 26%, it remains strong and at a sustainable level, directors said. The Unified Communications division, which specializes in reselling services for a range of communication technologies, including telecommunications solutions, audio and video conferencing systems, and gaming equipment from leading international brands, reported an 18% decline in revenue to R245m, with a decline in the margin due to new products being introduced into the market, as well as the increased competition created by vendors. The division serves as a distribution partner for renowned brands such as HP Poly, Jabra, Logitech, Yealink, and Konftel, among others. The Healthcare division, which provides ICT solutions for the healthcare industry, increased revenue by 7% to R35m. The gross profit margin decreased slightly by 4%, but the margin remained healthy. 'Maintaining a strong revenue base through our core income streams and upholding excellent service levels remain essential strategies for ongoing growth and future expansion opportunities,' AYO directors said. The Managed Services division, which delivers network infrastructure, support services, and integrated solutions, reported revenue falling to R477.78m from R665m, mostly due to a decline in Zaloserv revenue after several one-off contracts with government departments had not yet been replaced by similar-value agreements. The Managed Services division pre-tax profit came to R6.38m, well up from the R16.82m loss reported on August 31, 2024, at the end of the previous financial year. Visit:
TimesLIVE
01-05-2025
- Automotive
- TimesLIVE
Why charging while driving could lead to cheaper EVs and zero range anxiety
As electric vehicle (EV) sales continue to grow around the world, the technology to keep them powered is progressing too, including the concept of 'electric roads' with wireless charging. The idea is not new and faces several challenges, but charging while driving could lead to smaller car batteries and thus cheaper electric vehicles. It could also help eliminate the other big hurdle that has turned consumers off adopting EVs: range anxiety. Much like the wireless charging of smartphones, the system uses inductive coils embedded beneath the road. EVs designed to use the roads are charged as they drive by an electromagnetic field generated by the coils. Vehicles continuously charge on the go so they don't need to stop to juice up the EV's battery, which takes much longer than filling up a petrol or diesel car. While EV battery capacity and range have improved, innovative charging solutions are key to making them more viable for widespread use and helping reduce air pollution. The concept of 'electric roads' has been around for decades with traditional trolleybus systems, but inductive charging eliminates the need for overhead power lines. Charging while driving could reduce the reliance on large, heavy and expensive batteries in trucks too. This could lead to lighter lorries with increased payload capacity and reduced energy consumption. Wireless charging roads could integrate with autonomous driving technology, allowing for continuous operation without human intervention for charging. Pilot projects of electric roads are under way in various parts of the world, with trials focusing on passenger and commercial vehicles. In Norway, a stretch of road near a bus depot in Trondheim has been equipped with inductive charging technology for electric buses. It allows buses to be charged wirelessly while they are parked or moving slowly, eliminating the need for physical connectors and reducing downtime for charging. There are drawbacks too, however, which is why the widespread implementation of electric roads with dynamic wireless charging is still in the testing phase in various parts of the world. One of the main stumbling blocks is expensive infrastructure, as building and maintaining electric roads infrastructure on a large scale would require significant investment. An Israeli company called Electreon that is piloting wireless charging technology has installed magnetic inductive coils in roads at nearly $2m (R37m) per 1.6km. Trials have been conducted in several countries seeking a national electric road network, including a 2022 UK dynamic wireless power transfer feasibility study, dubbed DynaCoV, which found that dynamic wireless charging was three to 10 times more expensive than conductive charging and is not financially feasible. The Swedish Transport Administration electric road programme in 2024 similarly recommended against funding a national electric road network in that country as it would not be cost-effective. Ensuring efficient and high-power transfer to vehicles moving at highway speeds is also a technological challenge, while the charging infrastructure embedded in the road needs to be robust enough to withstand heavy traffic and varying weather conditions — and easy to maintain. The French government's 2023-2027 study of electric roads found that in-road inductive charging infrastructure caused excessive strain for road surfaces using standard road materials. Ensuring the safety of road users from electromagnetic fields is another major consideration, as is establishing industry-wide standards for wireless charging technology and road infrastructure, which would be necessary for interoperability between different vehicle manufacturers. These are major challenges, but as EV sales gain traction around the world, convenient charging solutions are becoming increasingly critical, and the exploration of electric roads with wireless charging is a potentially transformative step.
