POY
POY
POY - Poynting Holdings Limited - 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 the previous
corresponding period.
Accordingly, a review of the financial results for the six months ended 31
December 2009 by management has indicated that the earnings and headline
earnings per share are expected to be between 2.41 cents and 2.62 cents
compared to a loss per share of 1.01 cents and a headline loss per share of
1.04 cents for the six months ended 31 December 2008.
The marked improvement in Poynting`s performance is due to a significant
increase in orders received by Poynting`s Defence Division, at good margins.
In addition, the Base Station Division, acquired in the prior financial year,
produced better than expected revenues and profits. Falling exports resulted
in lower sales in the Commercial Division however this has now stabilised and
together with aggressive reductions in the company`s overhead expenses, losses
incurred by the Commercial Division have been successfully curtailed.
The financial information on which this trading statement is based has not been
reviewed or reported on by Poynting`s auditors. Poynting`s interim financial
results are expected to be released on SENS on or about 30 March 2010.
Johannesburg
27 January 2010
Designated Adviser
Merchantec Capital
Date: 27/01/2010 12:49:01 Produced by the JSE SENS Department.
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