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ALLIED TECHNOLOGIES LIMITED - Trading Statement and Cautionary

Release Date: 19/09/2012 17:00
Code(s): ALT     PDF:  
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Trading Statement and Cautionary

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 AND CAUTIONARY ANNOUNCEMENT

Altech is currently finalising its results for the financial period
ended 31 August 2012 and shareholders are advised that the company’s
headline earnings and adjusted headline earnings per share are
expected to be between 18% and 25% lower than the corresponding
figures for the financial period ending 31 August 2011 (“the previous
financial period”). These reductions are primarily due to continued
poor results in Altech’s East and West African operations.

The remaining operations within Altech are performing satisfactorily.

In addition, due to the impairments in respect of Altech’s East and
West African operations, reflecting their poor results, the company’s
basic earnings per share are expected to show a loss of between 303
cents and 310 cents, compared to a profit of 141 cents in the
previous comparable financial period.

The financial information on which this trading statement is based
has not been reviewed or reported on by Altech’s external auditor.

Shareholders are advised that the company has entered into
negotiations, which if successfully concluded may have a material
effect on the price of the company’s securities. Accordingly,
shareholders are advised to exercise caution when dealing in the
company’s securities until a further announcement is made.

The results for the period ended 31 August 2012 are expected to be
published on or about 26 September 2012.

Johannesburg
19 September 2012

Sponsor
Investec Bank Limited

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