Earnings will be higher when it reports full-year results next week, says JSE-listed ICT software and services company Adapt IT Holdings.
However, because the company has changed its year-end from February to June, it is reporting for a 16-month period, and figures are not directly comparable with the last year-end.
Adapt IT says earnings per share should be between 12.96c and 14.32c, while headline earnings per share are expected to be between 11.54c and 12.76c. Headline earnings per share are considered a key indicator of a company's performance.
In its last full financial year, for the year to February 2009, the firm reported revenue of R77.5 million, up from R58 million in 2008. Net profit was also higher at R9.8 million, from R7.3 million. Earnings per share were 9.44c and headline earnings per share were 9.46c.
Adapt IT has not provided comparative results for the 16 months to June 2009 as “it was not practical for such figures to be calculated due to the change in the financial year-end”, it says.
The company expects to publish its results next week Wednesday. Its shares closed unchanged at 46c yesterday.
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