1TM - 1time Holdings Limited - Trading Statement

1TM - 1time Holdings Limited - 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 2010. Accordingly, a review of the     
interim financial results for the six months ended 30 June 2010 by              
management, has indicated that earnings per share is expected to be between     
3.65 cents and 7.00 cents and headline earnings per share is expected to be     
between 5.25 cents and 8.00 cents.                                              
As advised on 21 July 2010, airline revenue and passenger numbers increased     
for the six months ended 30 June 2010 when compared to the same period last     
year. The revenue increase was however largely offset by an increase in fuel    
and airport costs, resulting in the airline`s profit before tax and             
exceptional items being marginally down from the prior period.                  
Safair Technical (Proprietary) Limited, trading as Jetworx, the aircraft        
maintenance subsidiary, has not achieved profitability for the six months       
ended 30 June 2010. Management has however during June 2010 implemented a       
cost reduction programme, including head count reduction as permitted one       
year after the merger, and expects to return to profitability in the second     
half of the year.                                                               
The prior period earnings included exceptional items for negative goodwill      
and exchange gains as well as a credit tax charge which have not recurred in    
the current period.                                                             
Cash generated from operations improved compared to the prior period.           
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 2010 are expected to be released   
on SENS by Monday, 30 August 2010.                                              
Johannesburg                                                                    
20 August 2010                                                                  
Sponsor                                                                         
Merchantec Capital                                                              
Date: 20/08/2010 14:20:01 Supplied by www.sharenet.co.za                     
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