Capital Appreciation (Capprec), a financial technology (“FinTech”) enterprise, achieved continued growth across all business units despite the potentially significant impact of the COVID pandemic. On Wednesday, 2 December, Capital Appreciation announced its Interim Results for the six months ending 30 September, with revenue up 15%, HEPS up 29.7%, DPS up 11.1% and R488 million cash available for investment.
Synthesis Software Technologies, comprising the Software and Services segment of Capprec, was acquired in 2017 and has delivered impressive year-on-year growth despite the economic climate. The innovative software and consulting company achieved solid results under particularly challenging trading conditions for the half-year ending 30 September 2020. Revenue increased by 13.8% from the corresponding period and EBITDA grew by 3.1%.
Synthesis’ outlook remains strong and the demand for its services in the Cloud, RegTech, Digital Channels and Intelligent Data areas remain robust.
This year saw Synthesis strengthening its relationship with existing clients, establish new blue-chip enterprise client relationships, secure additional AWS accreditations and continue to advance AWS leadership. The software company also further diversified its revenue streams, increased operational capacity and partnered with Salesforce to further its digital offering.
Synthesis has been recognised as the partner of choice to leading South African businesses during this unprecedented time. It has optimised costs, digitalised solutions and ramped up innovation for these partners.
Synthesis’ development work with GovChat led to the creation of a product that awarded tangible benefits to citizens during the beginning of lockdown through the digitalisation of the South African Social Security Agency (Sassa) grant. This grant aided millions of South Africans and resulted in Synthesis being recognised as the Social Impact Partner of the year by AWS.
“Smooth seas never made a skilful sailor,” says Michael Shapiro, Synthesis Managing Director. “These six months have certainly been challenging however Synthesis once again delivered solid results – plus the overall Capital Appreciation Interim Results were exceptional. Our continued focus on Cloud, Digital Transformation and Emerging Technology services has been effective and shown solid outcomes. We continue to advance this strategy. I am proud of our team and appreciative of our valued customers and strong partners.”
The pandemic has accelerated the demands for Digitalisation, Cloud, Managed Services and Artificial Intelligence (AI). Synthesis is well positioned to meet these demands as it continues to both deepen and expand its already extensive expertise. With its eighth consecutive positive interim results announcement, Synthesis is expected to continue to shine in 2021.
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For more information on the innovative work Synthesis has done for its blue-chip clients, contact:
Kim Furman
Marketing Manager
072 236 3572
About Synthesis
Synthesis is a true South African success story. Synthesis believes that providing innovative solutions based on emerging technologies will help their clients become globally competitive. Synthesis focuses on banking and financial institutions, retail, media and telecommunications sectors in South Africa and other emerging markets.
In 2017 Capital Appreciation Limited, a JSE-listed Fintech company, acquired 100 percent of Synthesis. Following the acquisition, Synthesis remains an independent operating entity within the Capital Appreciation Group providing Cloud, Digital and RegTech services as well as corporate learning solutions through the Synthesis Academy.
