Poynting earnings to leap

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JSE-listed Poynting Antennas says earnings per share are likely to shoot up by as much as 167.3% for the full-year.

Poynting designs, manufactures and supplies antennas and telecommunication products to the cellular, wireless data and defence markets in SA and internationally.

It says in a trading statement that earnings per share are expected to increase between 147.3% and 167.3% and headline earnings per share should gain between 121.1% and 141.1% for the year to June, ITWeb reports.

Poynting says the earnings per share should come in between 7.3c and 7.89c, while headline earnings per share will be in a range of between 7.25c and 7.91c.

Last year, Poynting reported revenue of R81.5 million, a 7% year-on-year gain. It saw a 54% increase in profit before taxation, from R3.8 million to R5.8 million, excluding the loss in discontinued operations.

Basic earnings per ordinary share were 2.95c, while headline earnings per ordinary share came in at 3.28c.

Poynting’s year-end financial results are expected to be released on 28 September.