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POYNTING HOLDINGS LIMITED - Trading statement

Release Date: 30/06/2014 17:40
Code(s): POY     PDF:  
Wrap Text
Trading statement

POYNTING HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1997/011142/06)
Share code: POY ISIN: ZAE000121299
(“Poynting” or “the Company” or “the Group”)


TRADING STATEMENT


In terms of the Listings Requirements of JSE Limited, companies are required to publish a trading
statement as soon as they become reasonably certain that the financial results for the period to be reported
on will differ by more than 20% from the previous corresponding period.

Accordingly, a review of the financial results for the year ending 30 June 2014 by management has
indicated that the earnings per share and the headline earnings per share are expected to be at least 50%
lower compared to the earnings per share and the headline earnings per share of 10.48 cents for the year
ended 30 June 2013. A further trading statement will be published once the Company has a greater degree
of certainty with regards to its financial results for the year ending 30 June 2014.

The Defence division showed strong growth but this was to a large extent offset by losses in the
Commercial, New Projects and CCS divisions as they continued to invest in product development, new
technology and marketing.

Despite the new business of African Union Communications Proprietary Limited (“Aucom”) forming part of
the Group since 1 July 2013, the financial results were consolidated from 1 March 2014 in terms of IFRS 3
and IFRS 10. Aucom’s performance for the 12 months has been better than expected and has exceeded
their 12 month profit guarantee. The costs of the acquisition are however included in the financial results for
the year ending 30 June 2014, which had a material negative impact on profitability. The benefit of the
Aucom acquisition is expected to reflect in the first half of the 2015 financial year.

The financial information on which this trading statement is based has not been reviewed or reported on by
Poynting’s auditors. Poynting’s year-end financial results are expected to be released on SENS on or about
12 September 2014.


Johannesburg
30 June 2014

Designated Adviser
Merchantec Capital

Date: 30/06/2014 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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