Acquisitions to help Huge double its revenue

Telecoms company Huge Group expects to more than double its revenue to R1.2 billion this year through two acquisitions.

Huge acquired 25 percent in mobile advertising firm Eyeballs and the competition commission has approved its purchase of a 59 percent stake in service provider iTalk for R511 million.

Huge provides least-cost routing services to more than 10 000 corporate customers.

The acquisition of Eyeballs would further diversify income streams into the media field.

Huge yesterday reported results for its first seven months as an AltX-listed firm, with revenue of R243.5 million and pretax operating profit of R26 million.

Huge proposed a dividend of 12c a share. Its stock gained 9.3 percent to R4.10 yesterday.

By Thabiso Mochiko