Beget Holdings has told shareholders to expect a decrease of more than 30% in earnings for the year to December 2003.
The company, a mobile cellular technology business applications specialist, says the reason for the decrease is that it has had to write off an investment which did not, and is not expected to, perform in line with expectations for future profitability.
The results are expected to be released at the end of this month.
Beget, the only IT company to list on the JSE in 2002, is a holding company with interests in firms that, among other things, develop and distribute software enabling its client base to combine database management with Internet thin client technology and link it to e-commerce, using the GSM cellular platform as the carrier.
For the six months to June last year, Beget reported an after-tax profit of R1.15 million, compared with a R0.76 million profit for the same period a year before.
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