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ATN ATNP
ATN
ATN/ ATNP - Altron - Trading Statement
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code: ATN & ISIN: ZAE000029658
Share Code: ATNP & ISIN: ZAE000029666
("Altron" or "the company")
Trading Statement
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed
company is required to publish a trading statement as soon as it is satisfied
that a reasonable degree of certainty exists that the financial results for the
period to be reported upon next will differ by at least 20% from those of the
previous corresponding period.
Shareholders are advised that a reasonable degree of certainty exists that the
company`s basic earnings per share for the half year ended 31 August 2008 is
expected to be between 28% to 32% higher as against the previous corresponding
period. Headline earnings per share and adjusted headline earnings per share for
the half year ended 31 August 2008 are expected to be between 10% to 14% and 13%
to 17% respectively, higher as against the previous corresponding period. Basic
earnings per share is expected to increase at a higher rate than headline
earnings per share due to a capital profit arising on the sale of one of the
Powertech businesses during the current period and the non-recurrence of a
goodwill impairment within the Altech group which arose in the prior period. The
difference between headline earnings per share and adjusted headline earnings
per share is attributable to the amortisation of intangibles arising under IFRS
3 from the various acquisitions concluded by the Altron group in the past 12
months.
Altech and Powertech have achieved good growth during the past six months
notwithstanding the current challenging economic conditions. Bytes has
experienced more difficult trading conditions, and while revenue growth has been
good, margins have been under pressure.
Altron`s interim financial results for the financial half year ended 31 August
2008 are expected to be announced on or about 07 October 2008.
This trading statement has not been reviewed or reported on by Altron`s external
auditors.
By order of the board.
Johannesburg
19 September 2008
Sponsor
Investec Bank
Date: 19/09/2008 16:00:01 Produced by the JSE SENS Department.
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