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PNC
PNC
PNC - Pinnacle Technology Holdings Limited - Trading update and Trading
statement
Pinnacle Technology Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1986/000334/06)
Share code: PNC ISIN: ZAE000022570
("Pinnacle" or "the company")
TRADING UPDATE AND TRADING STATEMENT
Pinnacle`s shareholders are informed that, for the twelve months ended 30 June
2009, Pinnacle`s turnover increased by 16% to R 2.89 billion (30 June 2008: R2.5
billion).
Fully diluted headline earnings per share is projected to be between 58 and 62
cents per share, being between 1.4% and 8.4% higher than the results of the
comparative period (30 June 2008: 57.2 cents per share).
Stakeholders are reminded that the above results include a foreign exchange loss
of R32 million realized on uncovered foreign denominated liabilities incurred
during the devaluation of the ZAR in October 2008.
Fully diluted headline earnings per share, if adjusted for the exceptional
foreign exchange loss, is expected to be between 68 and 73 cents per share,
being between 19% and 27% higher than the previous year (30 June 2008: 57.2
cents per share).
Earnings per share is projected to be between 71 and 75 cents per share, being
between 2.5% and 8.2% higher than the results of the comparative period (30 June
2008: 69.3 cents per share).
Headline earnings per share is projected to be between 71 and 75 cents per
share, being between 1.4% and 7.1% higher than the results of the comparative
period (30 June 2008: 70 cents per share).
During the period under review the balance sheet was strengthened considerably.
Cash flows from operations amounted to R127 million (30 June 2008: R78 million).
Net cash on hand increased from R77 million to R164 million, long term debt was
reduced to 3% of equity and net tangible asset value has increased 60% from
126.8 cents per share to 203 cents per share.
The above information has not been reviewed or reported on by the company`s
auditors. The company`s financial results for the 12 months ended 30 June 2009
are expected to be published on or about 14 September 2009.
Midrand
Friday, September 04, 2009
Sponsor
Deloitte & Touche Sponsor Services (Pty) Limited
Date: 04/09/2009 09:40:02 Produced by the JSE SENS Department.
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