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ATN/ATNP - Allied Electronics Corporation Limited - Trading Statement Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share Code : ATN ISIN: ZAE000029658 Share Code : ATNP ISIN: ZAE000029666 ("Altron" or "the company") Trading Statement Shareholders are referred to the outlook statement contained in Altron`s summarised audited consolidated financial statements published on SENS on 4 May 2011. Pursuant thereto, Altron`s sub-holding operations have experienced the following trading conditions:- * Bytes has continued to perform well during the last six months, producing results ahead of expectations and achieving good growth in all areas of its business, predominantly as a result of improved corporate IT spend and the award of certain key contracts; * Powertech`s results were adversely affected by its cable businesses, which continued to face difficult times with demand remaining subdued and pricing highly competitive, particularly in the local building and construction sector and at its offshore Iberian operations. Disruptions due to the nationwide strike in July 2011 also negatively impacted the major operations within the Powertech group. Notwithstanding this, the remainder of Powertech`s operations exceeded expectations by improving efficiencies and capitalising on those growth opportunities which have presented themselves; * Altech`s performance since the year end has not improved to the extent anticipated, largely as a result of continuing challenges in its East African business. Pleasing growth has however been recorded in several of the remaining businesses of the Altech group. Shareholders are further referred to the trading statement published by Altech on SENS on 19 September 2011 advising its shareholders in this regard. Accordingly, shareholders are advised that a reasonable degree of certainty exists that the company`s headline earnings per share and adjusted diluted headline earnings per share, for the financial half year ended 31 August 2011 are expected to be lower by between 14% and 18% and 11% and 15% respectively, as against the previous corresponding period. Basic earnings per share for the financial half year ended 31 August 2011 is expected to be between 18% and 24% lower, as against the previous corresponding period. Basic earnings per share has been affected by impairments of goodwill, principally in respect of Altech`s East African operations and Bytes` Nor Paper. This trading statement has not been reviewed or reported on by Altron`s external auditor. Altron`s interim financial results for the half year ended 31 August 2011 are expected to be announced on or about 4 October 2011. By order of the board Johannesburg 19 September 2011 Sponsor Investec Bank Date: 19/09/2011 17:02:01 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.
