JSE-listed communications company Stella Vista says it has given up on the local market and will focus entirely on international opportunities.
Stella Vista management says a weak rand, leading to substantial local price increases, aggravated the continued lack of business in the local market.
The company announced its intention to concentrate on international business yesterday along with its interim financial results to February.
Turnover was 40% down to R13.3 million for the six months and the company reported a R3.3 million loss.
A headline loss of 1.9c per share was turned in, compared with a headline profit of 1.9c for the 2001 interim period.
Stella Vista implements and integrates communication systems using light-emitting diode (LED) technology and says the local market can clearly not satisfy its growth aspirations.
Management says it is realistically expecting two deals to be signed with international sports stadiums and is in discussion with certain international distributors to further its global reach.
However, the company says most of the propositions it is pursuing are part of larger projects and due to the long lead times involved, benefits will only materialise in the next financial year.
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