Local technology group Reunert has warned it expects a drop in half-year earnings, joining at least two locally-listed ICT companies that have issued profit warnings in the last few days.
Previously, Business Connexion and Faritec also cautioned shareholders to expect lower earnings, amid the global economic downturn.
“Shareholders are advised that earnings per share and headline earnings per share are anticipated to be between 10% and 30% lower than the corresponding reporting period of the previous year,” Reunert said this morning in a statement to the JSE.
It added that normalised headline earnings per share will be between 10% and 25% lower than the corresponding period.
“On a full-year basis, provided that trading conditions do not deteriorate further, we are reasonably confident that earnings should recover to be in line with those of the previous year.”
The reporting period alluded to by Reunert ends on 31 March 2009.
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