Fintech group Lesaka Technologies, formerly Net1, said on Wednesday years of cost reductions helped it achieve operating profit in its second quarter to end-December, helped by an increase in both low-margin airtime sales, as well as higher transaction numbers.
Group revenue picked up 16% in the six months to end-December to R5.2 billion, with the company reporting it just over halved its pre-tax loss to about R113 million. Revenue climbed 13% in its second quarter, when it achieved an operating profit of R42.5 million from a loss of R38.4 million previously.
It also achieved adjusted core profit of R180.5 million, having guided between R170 million and R180 million.