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" 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 2011. Accordingly, a review of the interim     
financial results for the six months ended 30 June 2011 by management, has      
indicated a loss per share of between 12.6 cents and 13.9 cents and headline    
loss per share of between 7.6 cents and 9.0 cents based on a weighted average   
number of shares in issue of 256 666 667.                                       
The above results are due to the airline incurring an attributable loss due     
to:                                                                             
-    average rand fuel prices increasing by 28% resulting in an additional      
    cost of R56.5 million for the period;                                       
-    abnormally poor passenger demand during May and June reducing load         
factors; and                                                                
-    airport charges increasing by 24% for the period resulting in an           
    additional cost of R12 million.                                             
The aircraft maintenance business turnaround is on track achieving close to     
breakeven for the period compared to the R22.6 million attributable headline    
loss incurred during the 2010 financial year.                                   
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 2011 are expected to be released   
on SENS on 5 September 2011.                                                    
Johannesburg                                                                    
30 August 2011                                                                  
Sponsor                                                                         
Merchantec Capital                                                              
Date: 30/08/2011 17:40:03 Supplied by www.sharenet.co.za                     
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