ALT - Allied Technologies Limited - Trading Statement
ALT
ALT
ALT - Allied Technologies Limited - Trading Statement
Allied Technologies Limited
(Registration number 1946/020415/06)
(Incorporated in the Republic of South Africa)
Share Code: ALT & ISIN: ZAE000015251
("Altech")
Trading Statement
Shareholders are advised that there is a reasonable degree of certainty that
Altech`s basic earnings, headline earnings and adjusted headline earnings per
share for the half-year ended 31 August 2010 will be between 20% to 30% lower
than for the previous corresponding half-year period.
These results reflect general economic conditions and the global downturn,
affecting certain of the market segments in which the Altech group operates.
Other specific factors consistent with the above reductions, are lower margins
on Submarine bandwidth, reduced GSM cellular interconnection fees, delayed
accrual of revenues due to Submarine and Terrestrial fibre service interruptions
(since restored), and the incurring of costs associated with the Digital
Migration (DTT) program, which has been delayed by Government.
Shareholders are advised that a significant part of the adverse impact of the
above factors is confined to the first half-year period. Altech`s high level of
annuity revenue and cost reduction measures that have already been implemented,
should minimise any continuing effects of the above adverse issues in the second
six months of the current financial year.
Altech`s interim results for the half-year ended 31 August 2010 are expected to
be announced on or about 28 September 2010.
This trading statement has not been reviewed or reported on by Altech`s external
auditors.
By order of the board.
Johannesburg
15 September 2010
Sponsor
Investec Bank Limited
Date: 15/09/2010 16:00:01 Produced by the JSE SENS Department.
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