ALT - Altech - Business Update - Voluntary Statement
ALT
ALT
ALT - Altech - Business Update - Voluntary Statement
Allied Technologies Limited
Member of the Altron Group
Incorporated in the Republic of South Africa
(Registration number: 1946/020415/06)
Share code: ALT
ISIN number: ZAE000015251
("Altech" or "the company")
BUSINESS UPDATE - VOLUNTARY STATEMENT
Altech wishes to inform shareholders regarding certain positive factors which
will affect its results for its current financial year, ending 28 February
2010. This is in accordance with Altech`s policy of full disclosure and timely
notification of relevant information to shareholders.
Altech is currently operating well and has experienced growth in revenue and
profits for the financial year, assisted by both its high level of recurring
(annuity) income and its strong financial position.
Shareholders are advised that both Altech`s headline earnings per share and
its adjusted headline earnings per share are expected to show positive growth
over those of the previous corresponding period. Adjusted headline earnings
are regarded as the most appropriate indicator of the company`s performance.
During the second half of the financial year the group has invested
substantially in international submarine cable capacity and the expansion of
its East African terrestrial fibre optic network. Profitable returns from
these will be obtained in subsequent financial periods.
Altech`s basic earnings per share are expected to decrease, due to an
impairment of certain intangible assets in a subsidiary.
The financial information on which this statement is based has not been
reviewed or reported on by Altech`s auditors.
The results for the year ending 28 February 2010 are expected to be published
on SENS on 20 April 2010.
Johannesburg
23 February 2010
Sponsor
Investec Bank Limited
Date: 23/02/2010 11:25:02 Produced by the JSE SENS Department.
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