1TM
1TM
1TM - 1time - Trading Statement
1time holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1999/017536/06)
(JSE code: 1TM ISIN: ZAE000102026)
("1time" 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 are satisfied that a
reasonable degree of certainty exists that the financial results for the
period to be reported on will differ by 20% or more from the financial results
for the previous corresponding period.
Shareholders are hereby advised that 1time is currently finalising its results
for the six months ended 30 June 2011. Accordingly, a review of the interim
financial results for the six months ended 30 June 2011 by management, has
indicated a loss per share of between 12.6 cents and 13.9 cents and headline
loss per share of between 7.6 cents and 9.0 cents based on a weighted average
number of shares in issue of 256 666 667.
The above results are due to the airline incurring an attributable loss due
to:
- average rand fuel prices increasing by 28% resulting in an additional
cost of R56.5 million for the period;
- abnormally poor passenger demand during May and June reducing load
factors; and
- airport charges increasing by 24% for the period resulting in an
additional cost of R12 million.
The aircraft maintenance business turnaround is on track achieving close to
breakeven for the period compared to the R22.6 million attributable headline
loss incurred during the 2010 financial year.
The financial information on which this trading statement is based has not
been reviewed or reported on by 1time`s auditors.
The results for the six months ended 30 June 2011 are expected to be released
on SENS on 5 September 2011.
Johannesburg
30 August 2011
Sponsor
Merchantec Capital
Date: 30/08/2011 17:40:03 Produced by the JSE SENS Department.
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