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AFE - AECI Limited - Revised trading statement

Release Date: 07/02/2011 08:00:04      Code(s): AFE
AFE - AECI Limited - Revised trading statement                                  
AECI LIMITED                                                                    
Incorporated in the Republic of South Africa                                    
(Registration No. 1924/002590/06)                                               
Share code: AFE     ISIN No. ZAE000000220                                       
("AECI" or "the Company")                                                       
REVISED TRADING STATEMENT                                                       
Shareholders are referred to the trading statement released on SENS on 14       
October 2010 advising them that AECI expected that its earnings per share       
("EPS") and headline earnings per share ("HEPS"), for the financial year then   
ending 31 December 2010, would be at least 40% higher than those achieved for   
the financial year ended 31 December 2009.                                      
In the same announcement, the Company undertook to issue a further trading      
statement once there was greater clarity on the specific range of the           
improvement in EPS and HEPS.                                                    
Accordingly, shareholders are advised that the range of improvement for EPS     
is expected to be between 30% and 50%.  EPS for the year ended 31 December      
2009 were impacted by a surplus on the disposal of the assets and property of   
SANS Fibres (Pty) Limited whilst, in 2010, EPS were affected by goodwill        
impairment and corporate restructuring adjustments.                             
HEPS for the year ended 31 December 2010 are expected to be between 50% and     
70% greater than last year.                                                     
Despite experiencing a strong year of trading in 2010, the Company`s results    
were adversely impacted by the strong rand/US dollar exchange rate and an       
abnormally high escalation in the post-retirement medical aid liability.        
AECI`s financial results, for the year ended 31 December 2010, will be          
released on SENS on Tuesday, 22 February 2011.                                  
The forecast financial information on which this revised trading statement is   
based has not been reviewed and reported on by the Company`s external           
Woodmead, Sandton                                                               
7 February 2011                                                                 
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 07/02/2011 08:00:04 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
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information disseminated through SENS.                                          

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