Black-owned ICT business solutions provider Simeka Business Solutions Group has indicated its interim results are expected to be higher than last year's figures.
In a note to shareholders yesterday, the company stated its interim results to the end of November should see revenue between 105% and 115% higher than last year's interim results.
CEO Mohammed Varachia previously indicated the company was growing its bottom line and expected the 2007 financial year to show revenue up by 59.2%, to R519.4 million, from R326 million in the most recent financial year.
The company reported its full-year results in July and indicated at the time that revenue was up 247% on the previous year.
However, its next interim results - to be published by the end of January, are expected to show headline earnings of between 245% and 255% higher year-on-year. Weighted headline earnings per share year-on-year are expected to be between 60% and 70% higher.
November 2005 saw the company report interim revenue of R97.7 million, while headline earnings per share were reported at 4.40c.
The JSE requires companies to notify shareholders if their next financial figures are expected to deviate from the pervious period by more than 20%.
Simeka's shares closed higher yesterday after the news at 77c. On Friday, its shares closed at 71c.
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