Streamworks, the JSE-listed supply chain management and industrial IT company, has warned that its year-end earnings per share will be lower than that of the previous year.
The company says that while it continues to trade profitably, earnings for the year to 31 March 2001 will be lower because of the delayed completion of two contracts and deferrals of other material contracts into the next financial year.
Losses incurred on two fixed-price contracts also hit earnings.
The company, which was listed in May 1999, reported earnings of 4.77c per share for its maiden year to 31 March 2000, which exceeded the forecast 4.4c.
The company also says it expects to make an announcement soon with regard to negotiations which are underway.
By midmorning, the Streamworks share was trading 15c or 33.3% down at 30c on the JSE.
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