As the global financial crisis continues to bite, Spescom is expecting a decrease of between 10% and 15% in net profit for the six months ended 31 March 2009.
Earnings per share and headline earnings per share for the same period are expected to range between 3,6 cents and 3,8 cents per share as compared to 4,3 cents for the prior period.
In a statement, the group says that its corporate technology customers have been affected by the global uncertainty with discretionary as well as capital investment spending decisions coming under increased scrutiny and project decisions being put on hold.
It says that, while Spescom Media IT has been largely shielded from the downturn, the group's other divisions have been impacted by the almost immediate slowdown in spending amongst corporate users.
However, the group has taken decisive action to ensure its ability to weather the economic downturn, without compromising the intellectual capital of the business.
The group says that, while short term counteractive action is a priority, it has also adopted a longer term and proactive view to this economic downturn and has concentrated on retaining its skills pool and minimising retrenchments among technical and sales staff.
The cost structure relating to the head office environment has been cut by about R5-million, while employees at head office and divisional level are considering a scheme to take a salary cut.
The retrenchment of approximately 10 positions, representing less than 3% of the workforce, is also being evaluated.