Pinnacle expects mixed results in South Africa

Mergers, Acquisitions and Financial Results

JSE-listed Pinnacle Micro's trading statement this week shows the company expects to crack just over R1 billion in turnover in its interim results.

The projection for the interims (six months ended 21 December 2008), shows the turnover has been boosted by around 39% for the company over the same period last year, when it earned R974 million.

While Pinnacle is expecting a healthy turnover, its gross profit only realised 15.88%, down from last year's 17.47%. Operating profit margins also took a knock, realising 4.9%, down significantly from last year's 7.3%.

As a result, the company expects both headline earnings per share and earnings per share to be down between 15.5% and 9.6%.

ITWeb