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ALT - Allied Technologies Limited - Trading Statement

Release Date: 19/09/2011 17:00
Code(s): ALT
Wrap Text

ALT - Allied Technologies Limited - Trading Statement Allied Technologies Limited Member of the Altron Group Incorporated in the Republic of South Africa (Registration number 1946/020415/06) Share Code : ALT ISIN Number : ZAE000015251 ("Altech" 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 the company and its directors become reasonably certain that the financial results for the period will differ by more than 20% from those of the previous corresponding period. Altech is currently finalising its results for the financial period ended 31 August 2011 and shareholders are advised as follows:- - The company`s headline earnings and adjusted headline earnings per share are expected to be between 15% and 25% lower, compared to the previous corresponding period; and - The company`s basic earnings per share are expected to be between 25% to 35% lower compared to the previous corresponding period. The reductions in headline earnings and adjusted headline earnings per share are primarily due to poor results in Altech`s East and West African operations, as well as operating costs incurred within Altech Technology Concepts to transform that company into a "first tier" ISP. The reduction in basic earnings per share is mainly attributable to impairments of goodwill, principally in respect of Altech`s East African operations, reflecting their current reduced profit levels. The financial information on which this trading statement is based has not been reviewed or reported on by Altech`s external auditor. The results for the period ended 31 August 2011 are expected to be published on SENS on or about 28 September 2011. Johannesburg 19 September 2011 Sponsor Investec Bank Limited Date: 19/09/2011 17:00:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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