Poynting Holdings has reported revenue for the year ended 30 June 2008 of R56-million, up 27,57% from 2007.
The company, which listed on the AltX in July 2008, also reported profit after tax of R5,82-million, 19,6% above last year. Profit after tax as a percentage of revenue was 10,38%, compared to 4,48% in 2007.
The group has two main operating segments: commercial and defence. As the more established of the two operating segments, the commercial antenna division has seen stable growth while the defence and specialised antenna division, which represents the recent expansion area, is a high growth unit.
At its listing on the AltX in July, Poynting raised R20-million for the expansion of its business operations. The share opened trade at a premium to the pre-listing issue price of R1.00 per share, giving Poynting a market capitalisation on listing of R108-million.
Poynting designs, manufactures and supplies antennas and telecommunication products to the cellular, wireless data and defence markets, both within South Africa and internationally via its subsidiaries.