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 2010,
by management, has indicated that earnings per share is expected to be between
2.18 and 3.68 cents and headline earnings per share are expected to be between
2.27 and 3.79 cents compared to a loss per share of 7.51 cents and a headline
loss per share of 7.58 cents for the year ended 30 June 2009.
Revenue has increased, gross margins have improved and operational expenses were
materially reduced compared to the previous financial year and the company will
generate a profit for the financial year ended 30 June 2010.
Divisional performance was as follows:
Defence Division exceeded expectation;
Commercial Division sales have stabilised;
The Base Station Division had a strong performance in the first half of the
financial year with reduced sales in the second half due to a general mobile
network capital expenditure slow down before the 2010 World Cup; and
Poynting Direct, which sells Commercial products to trade and retail customers,
once again showed satisfactory growth in revenues and contributed to group
profitability.
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 2010.
Johannesburg
20 August 2010
Designated Adviser
Merchantec Capital
Date: 20/08/2010 09:00:04 Produced by the JSE SENS Department.
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