1TM - 1time - Trading Statement

1TM - 1time - Trading Statement                                                 
1time holdings Limited                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1999/017536/06)                                            
(JSE code: 1TM     ISIN: ZAE000102026)                                          
("1time")                                                                       
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 year ended 31 December 2010. Accordingly, a review of the financial     
results for the year ended 31 December 2010 by management, has indicated that   
earnings per share is expected to be between 0.1 cents and 2.5 cents and        
headline earnings per share is expected to be between 20.0 cents and 24.0 cents.
The above results are due to a combination of the following:                    
Airline:                                                                        
1time Airline (Proprietary) Limited has performed well. Revenue has increased by
approximately 10% and passenger numbers by 7% compared to the 2009 financial    
year; however margins were negatively impacted by the 10% increase in fuel costs
and 36% increase in airport charges.                                            
Maintenance:                                                                    
Safair Technical (Proprietary) Limited has not performed as anticipated and has 
incurred losses for the period. Management has implemented measures to restore  
profitability in the 2011 financial year.                                       
Impairments:                                                                    
The difference between earnings and headline earnings per share relate mainly to
aircraft valuation impairment charges as a result of the strong Rand/US Dollar  
exchange rate.                                                                  
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 year ended 31 December 2011 are expected to be released on  
SENS on or about Thursday, 17 March 2011.                                       
Johannesburg                                                                    
11 March 2011                                                                   
Sponsor                                                                         
Merchantec Capital                                                              
Date: 11/03/2011 17:49:01 Supplied by www.sharenet.co.za                     
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