South African ICT firm Gijima has seen “significant progress” thanks to its turnaround strategy, according to chief executive officer (CEO) Eileen Wilton.

Wilton was speaking at the announcement of the company’s 2013 interim financial results.

In a statement, the company said it had restored profitability showing a positive result of ZAR2.7 million (US$255,000) from a loss of ZAR100 million (US$9.5 million) during 2012.

The Gijima CEO said in the past 12 months the company had completed contract renewals to the value of ZAR1.6 billion (US$151 million).

“This is an important indication that our continued efforts to attract and retain significant clients, even in a strong competitive environment, are demonstrating Gijima’s ability to provide service-delivery excellence,” Wilton said.

Gijima made news recently after chairman Robert Gumede issued a threat to newspaper the Sunday Independent after it published a news report entitled “ANC funder probed”.

Gumede said he planned to sue the publication and its owner for ZAR1 billion (US$94.5 million) for defamation.

The article brought to light an investigation by the Special Investigating Unit (SIU) of a tender to the value of ZAR360 million (US$33 million) which Gijima had allegedly been paid for despite not completing the work.