Altron has advised shareholders that the company’s basic earnings per share for the financial year ending 28 February 2015 are likely to be more than 50% lower as against the previous financial year, though various impairment reviews will only be concluded closer to the year-end.
Headline earnings per share for the financial year ending 28 February 2015 are expected to be more than 40% lower as against the previous financial year.
The Altron group’s financial performance has been negatively affected by difficult trading conditions, and in particular by a significant reduction in demand from certain key customers, as well as by those factors highlighted to shareholders in the company’s outlook statement published with the interim results on SENS on 8 October 2014.
The Altron board has implemented a number of significant remediation initiatives to address these matters, which together with a further trading statement will be released in due course to, among others, provide shareholders with a business update on the Altron group’s performance, as well as earnings forecast ranges for earnings per share and headline earnings per share as required by the JSE Listings Requirements.
Altron’s annual financial results for the financial year ending 28 February 2015 are expected to be announced on or about Wednesday, 13 May 2015.
Meanwhile, Altron has issued a cautionary announcement, advising shareholders that it has entered into a number of discussions and negotiations, which if successfully concluded, may have a material effect on the company’s securities. Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.
