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 advised that a reasonable degree of certainty exists that the
company`s basic earnings per share for the half year ended 31 August 2010 is
expected to be between 16% and 30% higher as against the previous corresponding
period. Headline earnings per share and adjusted diluted headline earnings per
share for the half year ended 31 August 2010 are both expected to be between 0%
and 10% higher as against the previous corresponding period. Basic earnings per
share is expected to increase at a higher rate than headline earnings per share
as a result of the reduction in the level of impairment charges compared to the
prior corresponding period.
Bytes and Powertech have seen a marked improvement in their performances during
the past six months notwithstanding that trading conditions have remained
challenging. However, Altech has encountered several short-term challenges
which have impacted on operating margins, particularly in certain of its large
operations which has reduced earnings to between 20% to 30% compared to the
prior corresponding period. Shareholders are referred to Altech`s trading
statement, published simultaneously with this announcement which provides
further detail regarding its expected performance for the six months ended 31
August 2010.
Altron`s interim financial results for the financial half year ended 31 August
2010 are expected to be announced on or about 5 October 2010.
This trading statement has not been reviewed or reported on by Altron`s external
auditors.
By order of the board.
Johannesburg
15 September 2010
Sponsor
Investec Bank
Date: 15/09/2010 16:01:01 Produced by the JSE SENS Department.
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