Poynting expects a loss


Antennae manufacturer Poynting Holdings expects to reverse its previous profit in the first half of the year when it reports its results later this month. The company said in a Stock Exchange News Service announcement yesterday that earnings and headline earnings would both be in negative territory for the first six months of the year to December.

Poynting expects to publish its results on 24 March.

Poynting designs, manufactures and sells antennae and telecommunication products to the cellular, wireless data and defence markets. The company operates through its three divisions: commercial, defence and base station equipment.

The company says the loss per share will be between 2.88c and 3.40c, while the headline loss per share is expected to range from 0.82c and 1.33c.

A year ago, the company reported headline and earnings per share of 2.55c. These earnings were off revenue of R38.6 million, and a net profit of R2.26 million, compared to 2008’s half-year loss of R874 000.

Poynting says its results for the first half of the year include non-cash items worth R5.3 million. It expects a better second half, based on pending orders in its defence division.

Its share closed unchanged at 38c yesterday. The company’s 52-week high was 40c, which it reached almost a year ago. Its 52-week low was on 1 February, when its share price dropped to 11c.