JSE-listed computing firm Pinnacle Technology Holdings' expectation of increased earnings sent its shares up.
The company told shareholders yesterday its results for the six months to end-December would be higher than the previous comparative period.
News of increased earnings sent the company's shares up, to close at R3.72 after hitting an intra-day and 12-month high of R3.83, with almost 1.2 million shares changing hands. Pinnacle's 12-month low is R1.70.
The company says its headline earnings are expected to come in at between 21.5c and 23c a share, which is between 76% and 89% higher than those of the six months to end-December 2005.
"Pinnacle's fully diluted headline earnings per share are expected to be between 17.5c and 19c per share, being between 43% and 56% higher than the results of the comparative period," it said. In its year ago figures, it reported fully diluted headline earnings per share of 12.2c.
Pinnacle's earnings are expected to be between 21c and 22.5 c a share, between 76% and 89% higher than December 2005, which was 11.9c.
The company informed shareholders of its expectations in accordance with the JSE's listing requirements. These require companies to publish a trading statement as soon as reasonably certain the financial results for the current reporting period will differ by over 20% to the previous corresponding period.
The company's results are expected to be published on or about 23 February.
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