JSE-listed Pinnacle Technology Holdings says headline and earnings per share for the six months to December will be higher.
In a trading update to shareholders, it said headline and earnings per share were expected to be between 91c and 96c a share, which is a gain of between 16% and 22%, compared to the six months to December 2011.
In the year to June, Pinnacle reported revenue up 18%, to R5.8 billion, while headline earnings per share gained 49%, to 175.1c. Analysts consider headline earnings to be a key indicator of performance as it strips out unusual items.
For the first half of the last financial year, the group reported revenue of R2.7billion, while net profit was R129.96 million.
A year ago, Pinnacle attributed its 32% gain in turnover mostly to contributions from its Pinnacle Africa and AxizWorkgroup hardware divisions, while software lost 11% turnover due to customers delaying their software upgrades.
Pinnacle bought Axiz in 2010, for R150 million, to gain R2 billion in annual revenue. However, the group is now moving beyond the boundaries of the ICT sector and is looking for more opportunities to add to its portfolio.
In December, it bought 90% of JAG Engineering (SA), for an undisclosed amount, which it will integrate into its Datanet unit. JAG is a Johannesburg-based company that manufactures server racking, wall boxes and IP enclosures.
The group's results should be published on 6 March.
Its shares closed slightly lower yesterday, to R18.60, a 17c or 0.91% drop, while the broader market lost 0.19%.
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