AMALGAMATED ELECTRONIC CORP LTD - Trading statement

Trading statement

AMALGAMATED ELECTRONIC CORPORATION LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1997/010036/06)
(“Amecor” or “the company”)
ISIN Code: ZAE 000070587      Share code: AER


TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2014

Shareholders are referred to the announcement released on SENS on 15 August
2014, wherein it was announced that after a review of the strategic fit of
the Secequip business within the group, Amecor decided to dispose of the
Secequip business.

The disposal gave rise to the Secequip business being treated as a
discontinued operation in terms of IFRS reporting requirements for the year
ended 31 March 2014. The Secequip business contributed 4.9 cents per share
of earnings to the basic and headline earnings per share for the prior
comparative six months ended 30 September 2013.

A non-recurring fair value adjustment on an interest free loan to Secequip
negatively impacted the continuing operations’ profits for the six months
ended 30 September 2014. This will subsequently reverse over the repayment
period of the loan.

In terms of the JSE Listings Requirements, companies are required to
publish a trading statement as soon as they are satisfied with a reasonable
degree of certainty that the financial results of the period to be reported
upon next will differ by 20% or more from the financial results of the
previous comparative period.

Shareholders are advised that:

    -   basic and headline earnings per share for the six months ended 30
        September 2014 are expected to be between 14.8 cents and 13.6 cents
        per share (in comparison to 19.8 cents per share for the prior
        comparative period) reflecting a decrease of between 25.3% and 31.3%
        on the comparative period; and


    -   basic and headline earnings per share attributable to Continuing
        Operations are expected to be between 14.8 cents and 13.6 cents per
        share for the six months ended 30 September 2014.



The financial information on which this trading statement is based has not
been reviewed by the company’s auditors. The company’s financial results
will be released on or about 19 December 2014.

By order of the Board of Directors

Johannesburg
8 December 2014

Sponsor: Sasfin Capital, a division of Sasfin Bank Limited

Date: 08/12/2014 09:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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