Fin24

Zaptronix reverses loss

2010-11-30 11:43

Johannesburg - Electronics firm Zaptronix [JSE:ZPT] said on Tuesday that for the year ended August 2010 it expects to reflect basic earnings and headline earnings per share of between 0.45 cents and 0.55c, compared to a basic and headline loss per share of 0.68c for the previous period.

In September, Zaptronix announced the acquisition of the business risks solutions from I to I Technology Solutions and the entitlement to the net profit of the business in terms of an agency agreement.

The increase in Zaptronix's earnings is mainly a result of the inclusion of the earnings of the business from March 1 to August 31 2010, in terms of the agreement which has become unconditional.

"Shareholders should, however, bear in mind that the inflow of future earnings of the business will only continue if the suspensive conditions of the transaction, particularly the approval of the transaction by the shareholders, are met," it said.

The company's prospects have been boosted by recently-awarded contracts from blue-chip clients amounting to R5m, to the site risk solutions division.

Zaptronix results are expected to be published by the end of November.