Update To Trading Statement And Resultant Cautiona
Altron - Update To Trading Statement And Resultant Cautionary Announcement
Release Date: 20/04/2004 14:01:01 Code(s): ATN
Altron - Update To Trading Statement And Resultant Cautionary Announcement
Allied Electronics Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1947/024583/06)
(Share code ATN ISIN ZAE000029658)
(Share code ATNP ISIN ZAE000029669)
("Altron")
UPDATE TO TRADING STATEMENT AND RESULTANT CAUTIONARY ANNOUNCEMENT
Shareholders are advised that further to the Trading Statements and Resultant
Cautionary Announcements issued by the Altron Group on 21 January 2004, the
directors of Altron have continued to analyse the financial results that are
being prepared for the year ended 29 February 2004. At that time, shareholders
were advised that should there be any change from this guidance, they would be
informed immediately.
As a result thereof, and in accordance with the Listings Requirements of the JSE
Securities Exchange South Africa ("JSE"), Altron provides the following further
guidance with regard to the anticipated earnings for the year ending 29 February
2004. This trading statement is made in accordance with the JSE Listings
Requirements and the term "significant" is used to denote a variance of 0% to
10%.
Whereas it was anticipated that Altron"s headline earnings per share, would show
a significant decline over the headline earnings per share achieved in the
previous corresponding period adjusted for the once-off gain from the
distribution from the Altron Group Benefit Fund, the directors of Altron can now
advise shareholders that the headline earnings per share will show a significant
increase over the headline earnings per share achieved in the previous
corresponding period adjusted for the once-off gain from the distribution from
the Altron Group Benefit Fund. This was as a result of an improved performance
from the sub-holding companies. The directors of Altron can further advise
shareholders that such increase will be at the lower end of the indicated range.
Cautionary announcement
As the above updated guidance on anticipated earnings has not been reviewed by
and reported on by the auditors of Altron, shareholders are advised to continue
to exercise caution when dealing in their securities until the 2004 year end
results are released on SENS.
It is anticipated that the 2004 year end results for Altron will be released on
Wednesday 12 May 2004
Due to these cautionary announcements and that Altron"s year end has passed,
Altron continues to be in a closed period.
Johannesburg
20 April 2004
Sponsors to Altron - Cazenove and Nedbank Corporate
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