Allied Electronics (Altron) expects its earnings to be between 28% and 32% higher than the corresponding period last year when it announced its results for the half-year ended 31 August 2008.
Headline earnings per share and adjusted headline earnings per share for the period are expected to be between 10% to 14% and 13% to 17%, respectively, higher as against the previous corresponding period.
Basic earnings per share is expected to increase at a higher rate than headline earnings per share due to a capital profit arising on the sale of one of the Powertech businesses during the current period and the non-recurrence of a goodwill impairment within the Altech group which arose in the prior period.
According to a statement, the difference between headline earnings per share and adjusted headline earnings per share is attributable to the amortisation of intangibles arising under IFRS 3 from the various acquisitions concluded by the Altron group in the past 12 months.
Altech and Powertech have achieved good growth during the past six months, notwithstanding the current challenging economic conditions. Bytes has experienced more difficult trading conditions, and while revenue growth has been good, margins have been under pressure.
Altron`s interim financial results for the financial half year ended 31 August 2008 are expected to be announced on or about 07 October 2008.