JSE-listed Idion Technology Holdings, whose only operating asset is US subsidiary Vision Solutions, will in future report its results in dollars.
At the same time, the group has issued a positive trading statement ahead of the release of its results next week.
The company has told shareholders that the move to dollars is because 100% of its revenue and more than 97% of costs are dollar based.
The change means that the financial information is presented in a manner that better reflects the "economic substance of the underlying events and circumstances of the group`s business", it says.
The results for the six months to 30 June 2004 are expected to be released next Wednesday. The comparative results for the year-earlier period will also be stated in dollars.
"The change of reporting currency to the US dollar not only reduces the distorting effects of fluctuations in currency exchange rates, but also assists in the simplification of financial analysis of Idion."
For the six months to June 2003, Idion achieved headline earnings of 0.1 US cent per share.
"Shareholders are advised that it is expected that headline earnings for the period ended 30 June 2004 will be more than 180% but less than 200% higher than the corresponding period."
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