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AEL: ALLIED ELECTRONICS CORPORATION LIMITED - Trading statement for the financial year ended 28 February 2019 Trading statement for the financial year ended 28 February 2019 Allied Electronics Corporation Limited (Registration number 1947/024583/06) (Incorporated in the Republic of South Africa) Share Code: AEL ISIN: ZAE000191342 ("Altron" or "the company") TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2019 In terms of the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as there is a reasonable degree of certainty that the financial results for the period to be reported upon next will differ by at least 20% from the financial results for the previous corresponding period. In line with previous reporting, the financial results for the year ended 28 February 2019 have also been divided between continuing and discontinued operations. The table below illustrates expected earnings per share and headline earnings per share on a statutory basis for the financial year-end period: 28 February 2018 28 February 2019 28 February 2019 (cents) between (cents) % range between Total operations Headline earnings per 121 180 - 196 49% - 62% share Earnings per share 51 186 - 194 264% - 280% Continuing Operations Headline earnings per 119 170 - 186 43% - 56% share Earnings per share 109 166 - 180 52% - 65% Continuing operations The majority of the group´s operations have had a strong performance for the financial year ended 28 February 2019. During the financial year, Netstar changed the way it accounts for contract fulfilment costs resulting in an EBITDA increase of R189 million for the prior year. Therefore, on a like-for-like comparison group EBITDA from continuing operations is expected to increase by between 28% and 35%. Headline earnings for the period are expected to increase between 43% and 56%. Normalised headline earnings have not been presented in this trading statement given the nominal difference as against the prior year of 4 cents per share. Discontinued operations As announced to shareholders on SENS on 26 July 2018, Altron concluded the disposal of Powertech Transformers. The company also concluded the sale of Altech UEC, the last non-core control asset, which became unconditional with effect from 21 January 2019. The ongoing improvement in the performance of the discontinued businesses against the prior year has contributed to the improvement in both earnings and headline earnings per share for total operations. The financial results for the year ended 28 February 2019 are expected to be released on SENS on 9 May 2019. This statement has not been reviewed or reported on by the company´s auditors. By order of the Board. Johannesburg 11 April 2019 Sponsor Investec Bank Limited Date: 11/04/2019 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.