Synergy Holdings is to report an 87% drop in headline earnings per share (HEPS) for the year to February.
The group, which has entered into undisclosed negotiations, says HEPS are to be about 2.43c lower than those of the previous year's 2.79c a share, signifying that Synergy expects HEPS of just 0.36c.
The group says in a trading statement that it experienced a decrease in the number of ACCPAC Dos to ACCPAC Windows upgrades. ACCPAC is one of the main accounting packages implemented and supported by Synergy.
It says also that in the previous year it benefited from an assessed tax loss which was exhausted at the February 2004 year-end.
Also contributing to the earnings plunge was the fact that Synergy opened a Cape Town branch, incurring substantial costs in the process.
The final figures are expected to be published on Friday.
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