Pinnacle Technology Holdings shares climbed by 8c or 9.4% to close at 93c on the JSE yesterday after the group released a positive trading update.
The group said earlier in the afternoon that it was expecting a 55% to 75% increase in headline earnings per share for the year to 30 June.
The trading statement also indicated that the company was expecting to report 55% to 75% growth in basic earnings per share.
For the year to June 2004, Pinnacle, an IT products and services supplier, achieved headline earnings of 8.9c a share and basic earnings per share of 8.5c.
In February, the group reported that it more than doubled net profit to R5.87 million for the interim six months to December.
CEO Arnold Fourie attributed the performance to cost controls, foreign exchange gains and new product releases.
When the interim results were announced, Fourie said the group had received significant orders from various institutions for delivery in the first half of this year.
This was expected to have a significant impact on the results for the full year.
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