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Altron Trading Statement
Allied Electronics Corporation Limited
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share Code: AEL ISIN: ZAE000191342
Share Code: AEN ISIN: ZAE000191359
(“Altron” or “the company”)
Altron Trading Statement
Shareholders are referred to the company’s business update and trading statement released
on SENS on 5 September 2016 and are advised as follows:-
In line with the previously communicated strategy of refocusing the Altron group, the financial
results for the half-year ended 31 August 2016 have been split between continuing and
discontinued operations in accordance with IFRS criteria. In this regard, the entire
Powertech group, Altech Autopage, Altech Multimedia and Altech Node have all been
classified as discontinued operations for reporting purposes with comparatives restated
accordingly. This disclosure provides shareholders with insight into the performance of the
core and non-core operations within the Altron group.
Accordingly shareholders are advised that a reasonable degree of certainty exists that in
respect of the company’s continuing operations the headline earnings per share for the
financial half-year ended 31 August 2016 is expected to be between 51 cents – 56 cents
(between 4% and 14% higher) as against the previous corresponding period’s profit of 49
cents. Basic earnings per share is expected to be between 51 cents – 56 cents (between
82% and 100% higher) as against the previous corresponding period’s profit of 28 cents.
In respect of the company’s discontinued operations the headline earnings per share for the
financial half-year ended 31 August 2016 is expected to be a loss of between 18 cents – 28
cents (a reduction of between 75% and 84%) as against the previous corresponding period’s
loss of 113 cents. Basic earnings per share is expected to be a loss of between 45 cents –
51 cents (a reduction of between 72% and 75%) as against the previous corresponding
period’s loss of 179 cents.
In respect of the company’s total operations (continued and discontinued) the headline
earnings per share for the financial half-year ended 31 August 2016 is expected to be
between 25 cents – 35 cents (between 139% and 155% better) as against the previous
corresponding period’s loss of 64 cents. Basic earnings per share is expected to be between
3 cents – 9 cents (between 102% and 106% better) as against the previous corresponding
period’s loss of 151 cents.
Altron’s half-year financial results for the period ended 31 August 2016 are expected to be
announced on or about Wednesday, 19 October 2016.
This trading statement has not been reviewed or reported on by Altron’s external auditor.
By order of the board.
Johannesburg
12 October 2016
Sponsor
Investec Bank Limited
Date: 12/10/2016 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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