Allied Electronics Corporation (Altron) says it expects its basic earnings per share for the six months to August to be 155% to 165% higher than the published figures for the same period a year ago.
"This increase includes the impact of adopting International Financial Reporting Standards (IFRS) as well as the change in accounting standards, in terms of which goodwill is now subject to impairment rather than amortisation," the group says in a shareholder update.
The figures for the year-earlier period have been restated to comply with IFRS. Taking this into account, the increase in earnings per share should be between 120% and 130%, it adds.
Basic earnings per share for the six months to August 2004 have been restated as 37.2c, compared with 32.3c as previously reported.
The group says the results are to be published on 11 October.
Altron is the holding company for several entities, including listed companies Bytes Technology Holdings and Allied Technologies (Altech).
The group reported turnover of R12.21 billion in the year to February.
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