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AMALGAMATED ELECTRONIC CORP LIMITED - Trading Statement

Release Date: 04/03/2016 14:50
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


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 period to be reported on will differ
by more than 20% from that of the previous corresponding period.

Accordingly, a review of the financial results for the year ending 31 March 2016 by management has indicated
that:
-   the earnings per share (“EPS”) is expected to be at least 35 cents (at least 104.5 cents higher than the
    loss per share of 69.5 cents for the year ended 31 March 2015), reflecting an increase in EPS of at least
    150.4%; and
-   the headline earnings per share (“HEPS”) is expected to be at least 35 cents (at least 54.3 cents higher
    than the headline loss per share of 19.3 cents for the year ended 31 March 2015), reflecting an increase
    in HEPS of at least 281.3%.

Although just less than a month of trading remains until the Company’s financial year end, the trading results
of the second half of the financial year indicate a vast improvement on the EPS and HEPS of 15.8 cents
reported in the interim period, reflecting an increase of at least 21.5%.

Furthermore, the EPS for the year ending 31 March 2016 is expected to be at least 10.3 cents higher than the
normalised continuing headline earnings per share of 24.7 cents for the prior year ended 31 March 2015
(excluding non-recurring impairments and provisions), reflecting an increase in EPS of at least 41.7%.

A further trading statement will be released once the Company has a greater degree of certainty with regards
to its financial results for the year ending 31 March 2016.

The financial information on which this trading statement is based has not been reviewed or reported on by the
Company’s auditors. Amecor’s financial results are expected to be released on SENS on or about
31 May 2016.


Johannesburg
4 March 2016

Sponsor
Merchantec Capital

Date: 04/03/2016 02:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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