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ALT
ALT
ALT - Allied Technologies Limited - Trading 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")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, companies are required
to publish a Trading Statement as soon as they become reasonably certain that
the financial results for the period to be reported on next will differ by more
than 20% from those of the previous corresponding period.
Altech is currently finalising its results for the financial year ended 28
February 2011 and shareholders are advised as follows -
* the company`s headline earnings and adjusted headline earnings per
share are expected to decrease by between 11% and 16%, compared to
that of the prior financial year; and
* the company`s basic earnings per share are expected to be 55% to 65%
lower than that of the prior year.
As indicated in the voluntary business update published on SENS on 10 December
2011, trading conditions in certain of Altech`s subsidiaries have been
negatively affected by adverse global and local economic conditions, as well as
currency volatility factors. However, the second six months of the group`s
financial year ended 28 February 2011 showed some improvement on the first six
months.
The reduction in basic earnings per share is mainly attributable to impairments
of goodwill, principally in respect of Altech`s East African operations,
reflecting their current reduced profit levels due to both the trading factors
referred to above and certain once-off costs which were incurred during the
financial year.
The financial information on which this trading statement is based has not been
reviewed or reported on by Altech`s auditors.
The results for the year ended 28 February 2011 are expected to be published on
SENS on 20 April 2011.
Johannesburg
13 April 2011
Sponsor
Investec Bank Limited
Date: 13/04/2011 09:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
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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.
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