Shares in antenna maker Poynting Holdings jumped almost 18% on Tuesday (26 June 2012) after it announced that its earnings for the year ended June could rise by at least 100% from the previous year.<\/p>\n
At midday\u201a Poynting\u2019s share rose by 17.65% to R1.<\/p>\n
Last month the company said it was expecting its headline earnings per share (HEPS) and earnings per share (EPS) to rise by at least 20% for the same period.<\/p>\n
In February\u201a Poynting recorded a 110% rise in earnings before interest\u201a taxes\u201a depreciation and amortisation for the six months ended December to R5.81m and increased its revenue by 15%.<\/p>\n
The company said\u201a at the time\u201a it was expecting similar or better revenues for the rest of the financial year\u201a which concluded at the end of June.<\/p>\n
\u201cCommercial revenues and profits will be better due to healthy existing product sales and additional revenue from the micro base stations for which significant orders are already in place or imminent\u201a\u201d Poynting said.<\/p>\n
The company said that \u201chistorically\u201d it has always had a stronger second half performance.<\/p>\n
\u201cIndications are that we should maintain or improve on first half performance. Overall performance is however never certain due to the uncertainty associated with the Commercial Division sales\u201a which can change relatively quickly due to fluctuations in market sentiment\u201a\u201d the company said.<\/p>\n
Poynting designs\u201a manufactures and supplies antennas and telecommunication products to the cellular\u201a wireless data and defence markets\u201a both within SA and internationally through its subsidiaries and partner companies.<\/p>\n
The company said it would release its financial results or about 28 September 2012.<\/p>\n
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