ATN ATNP
ATN
ATN/ATNP - Allied Electronics Corporation Limited - 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
Shareholders are referred to the business update published by Altron on SENS on
24 July 2009.
Shareholders are now advised that a reasonable degree of certainty exists that
the company`s basic earnings per share for the half-year ended 31 August 2009
are expected to be between 58% to 68% lower as against the previous
corresponding period, while headline earnings per share for the half-year ended
31 August 2009 are expected to be between 48% to 54% lower as against the
previous corresponding period. Furthermore, the company expects that its diluted
adjusted headline earnings per share for the half-year ended 31 August 2009 will
be between 41% to 47% lower as against the previous corresponding period. This
calculation excludes the amortisation of intangibles arising from recent
acquisitions. Management considers this to be the most meaningful measure of
profitability for the company.
Pursuant to a review of impairment indicators, management has taken the decision
to impair the goodwill arising on the Powertech Calidus and Bytes` Xerox UK
acquisitions, which has contributed to the higher rate of decline in basic
earnings per share as compared with headline earnings per share.
Altron`s interim financial results for the financial half-year ended 31 August
2009 are expected to be announced on or about 6 October 2009.
This trading statement has not been reviewed or reported on by Altron`s external
auditors.
By order of the board.
Johannesburg
14 September 2009
Sponsor
Investec Bank Limited
Date: 14/09/2009 17:15:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
