The market welcomed a trading update from Spescom yesterday, rewarding the group with a 10c share price increase to 105c.
By late this morning the share was trading another 4c higher at 109c.
The share price increase came after Spescom said an improved operational performance in the second half of the financial year to September had resulted in a significant decrease in its net operating loss for the full year.
"This will translate to a loss per share of between 5.7c and 3.8c per share," the group says in its trading statement.
This is a significant improvement on the interim period, when Spescom incurred a loss of R12.59 million and a loss of 17.3c a share.
The group says profits from a minority interest resulting from the restructuring of an offshore investment has had a positive effect on headline earnings per share, which are expected to be between 32.5c and 39.7c a share.
At the interim stage, Spescom reported a headline loss of 17.4c a share.
The latest results are still off the figures for the year to September 2004, when the group reported a R29.15 million profit for the year, translating to earnings of 49c a share and headline earnings of 63.1c a share.
CFO Jene Palmer blamed the interim losses on the unpredictability of the telecommunications sector, resulting in delays in finalising significant contracts.
"The most notable outcome of this trading period is the emergence of a more focused international group with increased channels to market and solid pipeline opportunities which are expected to contribute to improved performance in the second half of the year," Palmer said at the time.
The full-year results are expected to be published on 30 November.
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Spescom blames telecoms for loss
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