AET - Alert Steel Holdings Limited - Revised trading update for the year
AET
AET
AET - Alert Steel Holdings Limited - Revised trading update for the year
ended 30 June 2011
ALERT STEEL HOLDINGS LIMITED
Incorporated in the Republic of South Africa)
Registration number 2003/005144/06)
JSE code: AET ISIN: ZAE000092847
"Alert Steel" or "the group")
REVISED TRADING UPDATE FOR THE YEAR ENDED 30 JUNE 2011
Shareholders of Alert Steel are referred to the trading statement
released on SENS on 8 September 2011.
In accordance with paragraph 3.4 (b)(iv) of the JSE Limited Listings
Requirements, companies are required to publish a trading statement as
soon as they become reasonably certain that the previously published
number, percentage or range in the trading statement is no longer
correct.
Due to the better than anticipated collection of debtors that had been
long outstanding on 30 June 2011, the estimate of the provision for bad
debts at 30 June 2011 could be measured with greater certainty. This has
resulted in a lower provision for bad debts being raised for the year
ended 30 June 2011 than estimated at the time of releasing the previous
trading update.
Shareholders of Alert Steel are therefore advised that the loss per share
for the year ended 30 June 2011 is expected to be between 46.2 cents and
50.2 cents as opposed to a loss per share of between 52.9 cents and 56.9
cents as previously reported (2010: 39.8 cents per share). The headline
loss per share for the year ended 30 June 2011 is expected to be between
39.0 cents and 43.0 cents as opposed to a headline loss per share of
between 45.7 cents and 49.7 cents as previously reported (2010: loss 25.5
cents per share).
The information on which this trading statement is based has not been
reviewed and reported on by the group`s auditors.
As stated in the announcement released on 22 September 2011, the
provisional annual financial statements of Alert Steel are expected to be
published and distributed to shareholders on or about 17 October 2011.
6 October 2011
Pretoria
Designated Advisor
QuestCo Sponsors (Proprietary) Limited
Date: 06/10/2011 09:57:01 Produced by the JSE SENS Department.
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