Computer distributor Pinnacle Technology Holdings' revenue improved in the six months to December.
The company says in a trading statement that turnover increased 8.2%, to R1.465 billion, from R1.354 billion, while earnings on a fully-diluted basis were also higher.
Last year, in September, the company said its two new divisions, launched in 2008, were “gaining traction”, and CEO Arnold Fourie said the company hoped they would provide additional growth.
A focused business unit, DD1, was established as a distributor of tier-one hardware products to larger value-added resellers in the corporate market.
In addition, project management business unit Infrasol was set up to execute large networking infrastructure and audio-visual projects using a national footprint of service and implementation partners.
Earnings improve
This means that earnings and headline earnings per share are now based on additional shares in issue, for 145.5 million a year ago to 181.8 million at the end of the first half. The company says, as a result, a better comparison is to look at last year's fully-diluted headline earnings per share.
Taking the new amount of shares in issue into account, earnings per share should be between 28.6c and 30.6c a share, which is between 5.9% lower and 0.7% higher than the six months to December 2008.
Pinnacle's financial results for the first half of the year should be published on 23 February. The company's shares were up 25c on the day yesterday, to 350c, on the back of the news.
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