4Sight profits leap as AI fever grips JSE
Technology firm 4Sight Holdings reported a 35.7 percent jump in operating profit for the six months that ended on Aug. 31, reaching 48.3 million rand. Revenue grew 6.8 percent to 578.7 million rand as companies bought more artificial intelligence services. Chief executive Tertius Zitzke said professional services income rose 10.4 percent while clients in mining and manufacturing adopted automated systems.
The business environment division posted a 264% increase in operating profit from data and AI products. The channel partner unit lifted profits 13.5 percent while shared services cut costs through automation. Basic earnings per share climbed 30.3 percent, and the cash balance increased 11.5 percent.
The operational technology segment fell 11.7 percent because of expected mining industry cycles. Zitzke said new contracts and possible acquisitions should support growth in the coming months. Net asset value rose 14.5 percent as the company pursued its AI strategy.
