Total Client Services (TCS), which expects to publish its interim results tomorrow, says its bottom-line loss will widen.
The company says its loss per share is expected to be between 1.69c and 1.71c for the six months to August. A year ago, the company reported a loss per share of 0.09c.
TCS' headline loss per share is expected to be between 1.32c and 1.34c. For the six months to August 2009, it reported a headline loss per share of 0.10c. The company did not provide reasons for the wider loss per share.
In the year to February, revenue was down almost a third because of delays in rolling out a tender, and a change in the status of another contract.
Revenue declined 28%, to R71.7 million, and 13% of the decline was due to the company losing the contract with the City of Cape Town. Its contract with the Ekurhuleni Municipality, on the East Rand, did not compensate for the lack of revenue from Cape Town due to delays in rolling out the system.
TCS provides law enforcement solutions to traffic departments around the country. The company's products and services have been developed to comply with the new Administrative Adjudication of Road Traffic Offences Act, which will replace the current traffic law enforcement legislation in SA.
TCS was spun out of Labat and listed separately in April 2008. It provides integrated traffic law enforcement solutions, including technology, proprietary application software and administration services to local authorities and provincial administrations.
Related story:
Rollout delays hamper TCS
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