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AMALGAMATED ELECTRONIC CORP LTD - Trading Statement

Release Date: 05/06/2015 13:03
Code(s): AER     PDF:  
Wrap Text
Trading Statement

Amalgamated Electronic Corporation Limited
Incorporated in the Republic of South Africa
(Registration number 1997/010036/06)
Share code: AER ISIN: ZAE000070587
(“Amecor” or “the Company”)

TRADING STATEMENT

Shareholders are advised that as a result of Amecor exiting from non-core operations and the
board concluding a thorough review of the Company’s accounting practices, impairments of
assets and provisions for future obligations have been identified and are required for the year to
31 March 2015.

Consequently, in terms of the Listings Requirements of JSE Limited, companies are required to
publish a trading statement as soon as they become reasonably certain that the financial results
for the year to 31 March 2015 will differ by more than 20% from that of the previous
corresponding period.

Accordingly, a review of the financial results for the year ended 31 March 2015 by management
as mentioned above has indicated that:
-   the earnings per share (“EPS”) is expected to be at least 30 cents lower than the EPS of
    24.7 cents for the year ended 31 March 2014, reflecting a decrease of at least 121%; and
-   the headline earnings per share (“HEPS”) is expected to be at least 10 cents lower than the
    HEPS of 27.9 cents for the year ended 31 March 2014, reflecting a decrease of at least 36%.

The core operations continue to trade well and excluding the once off impairment charges and
provisions mentioned above, the normalised EBITDA from continuing operations is expected to
be between 10% and 20% higher than that of the previous corresponding period.

A further trading statement with more precise ranges will be released once the Company has a
greater degree of certainty with regards to its financial results for the year ended 31 March 2015.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Company’s auditors.

Johannesburg
5 June 2015

Sponsor
Merchantec Capital

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