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Poynting warns on loss

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Poynting Holdings has warned shareholders that a review of the financial results for the six months ended 31 December 2010 has indicated that the loss per shaer is likely to be bigger than for the previous year.

In a statement, the company says the loss per share is expected to be between 2.88 and 3.40 cents and the headline loss per share is expected to be between 0.82 and 1.33 cents compared to an earnings per share and headline earnings per share of 2.55 cents for the six months ended 31 December 2009.
Trading results for the first six months include non-cash items amounting to R5,3-million, the statement add. The order delivery schedule for the Defence Division will also result in a much stronger second half performance for the company.