ALT - Allied Technologies Limited - Trading Statement
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 the company and its
directors become reasonably certain that the financial results for the period
will differ by more than 20% from those of the previous corresponding period.
Altech is currently finalising its results for the financial period ended 31
August 2011 and shareholders are advised as follows:-
- The company`s headline earnings and adjusted headline earnings per share
are expected to be between 15% and 25% lower, compared to the previous
corresponding period; and
- The company`s basic earnings per share are expected to be between 25% to
35% lower compared to the previous corresponding period.
The reductions in headline earnings and adjusted headline earnings per share
are primarily due to poor results in Altech`s East and West African
operations, as well as operating costs incurred within Altech Technology
Concepts to transform that company into a "first tier" ISP.
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.
The financial information on which this trading statement is based has not
been reviewed or reported on by Altech`s external auditor.
The results for the period ended 31 August 2011 are expected to be published
on SENS on or about 28 September 2011.
Johannesburg
19 September 2011
Sponsor
Investec Bank Limited
Date: 19/09/2011 17:00:02 Produced by the JSE SENS Department.
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