JSE-listed Faritec has warned its shareholders that it will report headline and basic losses per share for the year to 30 June.
The group says the results were affected by an increase in costs and a delay in resultant revenue.
"While the level of business activity remains positive, the investments in new managed services businesses have not yielded the returns in the anticipated time frame," it says in a trading statement.
"An action plan is being developed to reduce costs and accelerate the returns from these investments.
"This action plan will be communicated once it is finalised and approved by the Faritec board."
The group has advised its shareholders to exercise caution in dealing with its shares as the information has not been reviewed or reported on by its auditors.
The financial results are expected to be released around 15 September. The Faritec share was untraded at 35c on the JSE at midmorning today.
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