{"id":28207,"date":"2013-01-03T10:00:17","date_gmt":"2013-01-03T08:00:17","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=28207"},"modified":"2013-01-03T10:28:56","modified_gmt":"2013-01-03T08:28:56","slug":"worst-performing-tech-shares-of-2012","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/28207\/worst-performing-tech-shares-of-2012\/","title":{"rendered":"Worst performing tech shares of 2012"},"content":{"rendered":"

Tech companies have had a busy year on the JSE<\/a> – and while the South African tech sector weathered the economic storms of 2012, not every listed company had a positive result in stock trading on the local exchange.<\/p>\n

These are the tech companies who didn’t manage to perform so well in 2012, losing stock value on the JSE.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n
#<\/strong><\/td>\nCompany<\/strong><\/td>\nJSE<\/strong><\/td>\nShare price –<\/strong><\/strong> 3 January 2012
\n<\/strong><\/td>\n		Share price –<\/strong><\/strong> 2 January 2013
\n<\/strong><\/td>\n		% Change
\n<\/strong><\/td>\n<\/tr>\n
1<\/td>\nGijima<\/td>\nGIJ<\/td>\nR0.65<\/td>\nR0.28<\/td>\n-56.92<\/td>\n<\/tr>\n
2<\/td>\nTelkom<\/td>\nTKG<\/td>\nR29.15<\/td>\nR16.99<\/td>\n-41.71<\/td>\n<\/tr>\n
3<\/td>\nNet1 UEPS<\/td>\nNT1<\/td>\nR65.00<\/td>\nR42.00<\/td>\n-35.38<\/td>\n<\/tr>\n
4<\/td>\nAltech<\/td>\nALT<\/td>\nR53.80<\/td>\nR39.20<\/td>\n-27.13<\/td>\n<\/tr>\n
5<\/td>\nDatacentrix<\/td>\nDCT<\/td>\nR5.04<\/td>\nR3.72<\/td>\n-26.19<\/td>\n<\/tr>\n
6<\/td>\nDigicore<\/td>\nDGC<\/td>\nR2.99<\/td>\nR2.40<\/td>\n-19.73<\/td>\n<\/tr>\n
7<\/td>\nAltron<\/td>\nATN<\/td>\nR22.85<\/td>\nR21.00<\/td>\n-8.09<\/td>\n<\/tr>\n
8<\/td>\nMustek<\/td>\nMST<\/td>\nR5.80<\/td>\nR5.50<\/td>\n-5.17<\/td>\n<\/tr>\n
9<\/td>\nBusiness Connexion<\/td>\nBCX<\/td>\nR5.41<\/td>\nR5.30<\/td>\n-2.03<\/td>\n<\/tr>\n
10<\/td>\nISA<\/td>\nISA<\/td>\nR0.79<\/td>\nR0.78<\/td>\n-1.26<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

All share prices were sourced from Bloomberg, representing stock prices at close of 3 January 2012, and 2 January 2013.
\n<\/small><\/p>\n

Gijima<\/h3>\n

Although coming from a lower base of 65c per share at the start of 2012, Gijima<\/a> was the biggest overall loser in terms of tech share price on the JSE, losing almost 57% of it’s value over the course of the year.<\/p>\n

During 2012, Gijima engaged in “remedial actions” at the company to boost production and the company’s financial standing.<\/p>\n

This move was, in part, also as a result of the company losing a significant contract, while a material portion of another key contract was insourced during the 12 months ended 30 June 2012.<\/p>\n

In its last financial reporting, Gijima\u00a0reported a decline in revenue for the 12 months ended 30 June 2012,\u00a0to R2.53 billion, from R2.56 billion in 2011. At the reporting, Gijima also announced that its CEO, Jonas Bogoshi<\/a>, would be stepping down as of 31 December 2012.<\/p>\n

Telkom<\/h3>\n

Telkom<\/a> has had a year to forget in 2012, following a blocked deal with Korea firm, KT Corp<\/a>, by cabinet in May; the resignation of its chairman and chief executive; and increasing government influence in the group which has led to speculation of the group being nationalised.<\/p>\n

These, along with a string of woeful financial performances largely on the back of declining fixed line revenues, have led to Telkom\u2019s share price losing almost half of its value in 2012, alone.<\/p>\n

The group achieved a high of R29.75 in early\u00a0February – but ultimately, a year on, the struggling encumbent’s stock is trading at almost\u00a042% less in value than at the start of 2012.<\/p>\n

Net1<\/h3>\n

Net1<\/a>,\u00a0a provider of alternative payment systems, manages and distributes smart card social grants in South Africa, having been awarded a R10 million contract by the\u00a0SA Social Security Agency (Sassa) in January.<\/p>\n

In August,\u00a0the North Gauteng High Court ruled that the tender process involved in the contract was improper.<\/p>\n

In November, Net1 received a letter informing the group that the US Department of Justice and the FBI had begun an investigation into the company, looking at whether the group violated provisions of the Foreign Corrupt Practices Act and other US federal\u00a0criminal laws.<\/p>\n

In one foul swoop, the company’s share price crashed over 55% on the JSE on the day – though has since made a small recovery. From the start of 2012 to the same time in 2013, Net1’s share price as dropped over 35%.<\/p>\n

Altech<\/h3>\n

Altech<\/a>‘s tough time in West and East Africa caused the company’s stock to loseover 27% of its value in 2012.<\/p>\n

While still showing growth in revenue in its financial reportings, Altech\u2019s results were marred by its operations in East and West Africa which experienced a tough trading period with financial performance below expectations.<\/p>\n

Altech announced on 26 September that it had shed 75% of its stake in West Africa, while holding onto the belief that there is potential for growth in East African operations.<\/p>\n

Related articles<\/h3>\n

Gijima CEO steps down<\/strong><\/a><\/p>\n

Telkom value shrinks R60bn in 4 years<\/strong><\/a><\/p>\n

Net1 shares slump 55% on corruption probe<\/strong><\/a><\/p>\n

Altech\u2019s Venter buoyant over East Africa<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BusinessTech looks at the tech companies who didn’t manage to perform so well in 2012, losing stock value on the JSE.<\/p>\n","protected":false},"author":10,"featured_media":28250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[397,311,309,1031,2323,363,641,26,4328,1097,4820,173,65],"class_list":["post-28207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-397","tag-altech","tag-altron","tag-business-connexion","tag-datacentrix","tag-digicore","tag-gijima","tag-headline","tag-isa","tag-mustek","tag-net1-ueps","tag-shares","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/28207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=28207"}],"version-history":[{"count":17,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/28207\/revisions"}],"predecessor-version":[{"id":29169,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/28207\/revisions\/29169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/28250"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=28207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=28207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=28207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}