Johannesburg – Business support services group Mvelaserve on Thursday reported a 42.2% rise in headline earnings per share to 159.8
cents for the year ended June 2011 from 112.4c a year ago.

Revenue from both continued and discontinued operations increased
by 11% to R4.6bn, with the majority of growth driven organically with 13%
attributable to acquisitive growth. Profit from operations increased by 16% to
R340m.

A maiden dividend of 36 cents per share was declared.

The company said despite challenging economic conditions,
operations delivered solid results in line with expectations.

During the year the group advanced its growth strategy,
which included further acquisitions and a restructuring of the catering and
cleaning businesses.

Mvelaserve listed on the JSE in November last year, with an
opening share price of R14.50/share. At the close of trade on the JSE on
Wednesday, its share price stood at R11.11.

The group has a diversified portfolio of defensive and
growth businesses offering a wide range of integrated services including
facilities management, security, catering, food manufacture, franchising,
gambling, cleaning, food, hygiene and ingredients packaging, information and
communications technology and water treatment and purification.

Post year-end this was extended to include road remediation
and pothole repair, a critical offering to customers with large road networks.

Looking ahead the group remains cautiously optimistic,
notwithstanding the weak and uncertain recovery in local and international
markets. The group is confident that the mix of businesses and the strategic
business model should continue to sustain Mvelaserve’s resilience and deliver
growth across its operations.

The group will maintain focus on organic growth, margins, cost
control and capital expenditure, while also capitalising further on economies
of scale wherever viable. Key to organic growth remains Mvelaserve’s
cross-selling capability, supported by the critical mass which will help
generate further efficiencies in areas such as procurement.

Management continues to explore expansion opportunities in
new growth markets locally and with select partners in Africa, the latter
specifically where existing clients have requested the group’s presence, it
said.