ATR - Africa Cellular Towers Limited - Trading Update
ATR
ATR
ATR - Africa Cellular Towers Limited - Trading Update
AFRICA CELLULAR TOWERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/027374/06)
JSE code: ATR
ISIN: ZAE000088084
("ACTOWERS" or "the company")
TRADING UPDATE
Shareholders are advised that the company is in the process of finalising its
results for the year ended 28 February 2011 and expects to reflect a loss per
share of between 35.5 cents and 39.3 cents and a headline loss per share of
between 29.3 cents and 32.3 cents when compared to the loss and headline loss
per share of 25.9 cents and 22.9 cents, respectively, for the year ended 28
February 2010.
The turnaround strategy of the company is starting to bear fruit and ACTOWERS
experienced an improved second half of 2011 with the biggest losses being
incurred in the first half of 2011. A view was taken on JK Shelters and the
remainder of the goodwill, to the amount of R22 million, was written off. The
Power Lines Division has secured some good contracts and this division is the
best performer of the company.
The financial information on which this trading update is based has not been
reviewed or reported on by the company`s auditors.
The company`s results for the year ended 28 February 2011 are expected to be
released on SENS on or about 20 May 2011.
13 May 2011
Designated Adviser
Vunani Corporate Finance
Date: 13/05/2011 13:00:01 Produced by the JSE SENS Department.
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