Poynting to reverse loss


Antenna manufacturer Poynting Holdings expects to reverse its previous half-year loss-making position when it reports its interim results.

The company on Friday issued a statement indicating that earnings per share and headline earnings per share for the six months to December should improve to “at least” a profit of 1.42c a share, ITWeb reports.

A year ago, the company reported a loss per share of 3.15c and a headline loss per share of 1.85c. It says it will provide greater certainty as soon as possible. Last March, the company said its first half results showed revenue up marginally to R33.7 million, but it reported a loss after tax of R2.8 million.

Poynting said, at the time, it would close its base station unit due to low demand. Its results are expected to be published on 29 February.