Synergy Holdings, which this morning released its results for the year to end-February, says it intends to change its listing to the JSE's new alternative exchange, AltX.
CEO Ashley Regenass says the group has been invited by AltX to make a presentation to the AltX advisory committee regarding switching its listing. The presentation is expected to take place early next month.
Synergy's full-year headline earnings per share increased from 2.34c to 2.79c on an increase in gross revenue from R18.91 million to R21.82 million. The net profit for the year rose to R1.54 million from R1.27 million a year before.
A final dividend of 0.3c a share has been declared.
Regenass says Synergy, an Accpac Accounting Software specialist, has enjoyed the benefit of an assessed tax loss from previous years, but future periods will be affected by tax at the normal rate.
"It is important to note that the effect of taxation on future earnings may create a situation where comparative performance appears flat or even lower."
During the year the Synergy Accounting division was named the Accpac National Dealer of the year despite having operations only in Gauteng. Regenass says the division will seek representation in other major centres, which may require acquisitions of businesses in those areas.
Synergy Networking is still in the process of acquiring the resources needed to make an independent offering to the market, while Appsoft has continued to contribute positively to results, particularly in the area of custom development for Synergy Accounting implementations.
"However, there has been a positive growth in the sale of shelf products both locally and internationally," Regenass says. "We anticipate a minor growth in the sale of shelf products."
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