The market has not taken kindly to a negative trading update from Spescom.
The share plunged by 21c or 15.4% to close at 115c on the JSE on Friday after the group warned on Thursday night that it would incur a loss for the six months to March.
Earlier in the day, the share touched an intraday low of 95c before a partial recovery. Friday's close was the lowest since October 2003.
Volumes were high as about 1.15 million shares changed hands.
At Friday's close, the Spescom share had lost 45c or 28.13% this month.
Spescom estimates that it will report a headline loss of between R10 million and R14 million, which compares with headline earnings of R20.6 million for the same period a year earlier.
Spescom CEO Tony Farah blamed the poor performance on the "unpredictability" of the telecommunications market.
He added Spescom had experienced delays in the finalisation of long-term contracts and the awarding of new contracts.
By late this morning the Spescom share was trading another 1c lower at 114c, having touched 105c earlier in the morning.
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