POY
POY
POY - Poynting - Trading Statement
POYNTING HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1997/011142/06)
Share code: POY ISIN: ZAE000121299
("Poynting" or "the company")
TRADING STATEMENT
In terms of the Listings Requirements of JSE Limited ("the Listings
Requirements"), companies are required to publish a trading statement as soon
as they become reasonably certain that the financial results for the period
to be reported on will differ by more than 20% from either the previous
corresponding period or from a profit forecast previously published covering
the period to be reported on.
Accordingly, a review of the financial results for the year ended 30 June
2009 by management has indicated that loss per share and headline loss per
share of Poynting are expected to be between 3.7 cents and 8.1 cents.
Higher than anticipated revenues in the Defense Division along with good
revenues from the newly acquired Saab Grintek Defence (Proprietary) Limited
business resulted in somewhat higher overall 2009 revenues than 2008.
However, increased overheads and dramatically lower than budgeted revenues
from the Commercial Division have resulted in a loss for the company for the
2009 financial year. In the last six months of the 2009 financial year the
overheads in the Commercial Division has been reduced by approximately 50% to
ensure a return to profitability in this division. The Defence Division is
continuing to provide solid growth and profitability with a strong order book
for the 2010 financial year.
The financial information on which this trading statement is based has not
been reviewed or reported on by Poynting`s auditors. Poynting`s year end
financial results are expected to be released on SENS on or about 30
September 2009.
Johannesburg
31 August 2009
Designated Adviser
Merchantec (Proprietary) Limited
Date: 31/08/2009 16:30:01 Produced by the JSE SENS Department.
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