Earnings per share will be higher when it reports its full-year results to June later this month, says listed company Pinnacle Technology Holdings.
The group says turnover increased 16%, to R2.89 billion, from a year ago, when it was R2.5 billion. Fully diluted headline earnings per share should be between 58c and 62c a share, which translates into an increase of between 1.4% and 8.4%.
Last year, headline earnings per share were 57.2c a share. However, the company warns the headline earnings per share figures include a foreign exchange loss of R32 million. This is due to uncovered foreign denominated liabilities after the rand devalued in October last year.
Adjusting for the currency exchange loss, fully-diluted headline earnings per share would be between 68c and 73c, an increase of between 19% and 27% from last year. Headline earnings per share should be between 71c and 75c, which is between 1.4% and 7.1% higher than the 70c a share reported last year.
Earnings per share should be between 71c and 75c a share, which is an improvement of between 2.5% and 8.2% over the 69.3c reported last year.
Pinnacle says it has improved its balance sheet “considerably” in the past year. Cash from operations was R127 million, up from last year's R78 million. Net cash on hand increased from R77 million to R164 million, and long-term debt was reduced.
The company is expected to report its results on 14 September. Companies are required by JSE rules to alert shareholders as soon as they are aware that earnings will differ by 20% from the previous corresponding period.
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