May 14, 2020 / 6:49 AM / 20 days ago

BRIEF-Allied Electronics Corp FY HEPS Increased By 2% To 182 Cents

May 14 (Reuters) - Allied Electronics Corporation Ltd:

* FY HEPS INCREASED BY 2% (6%**) TO 182 CENTS

* FY REVENUE INCREASED BY 6% TO R16.7BN ON A STATUTORY BASIS

* ALLIED ELECTRONICS CORP- FY OVERALL NET DEBT REDUCED TO R1.1BN (INCLUDING DEFERRED DISPOSAL RECEIPTS), AGAINST R1.3BN AS AT END OF FY19

* ALLIED ELECTRONICS CORPORATION - PRUDENT TO PRESERVE CASH AND TO DECLARE DIVIDEND 40% LESS THAN WOULD OTHERWISE HAVE BEEN DECLARED

* A FINAL CASH DIVIDEND OF 26 CENTS PER SHARE HAS BEEN DECLARED FOR FINANCIAL YEAR

* COVID-19 IS EXPECTED TO HAVE A NEGATIVE IMPACT FOR YEAR AHEAD

* ALLIED ELECTRONICS CORPORATION - CALCULATED AS PERCENTAGE OF FY2020 REVENUE, EXPECT MID SINGLE-DIGIT REDUCTION IN REVENUE DUE TO COVID-19

* IMPLEMENTED A NUMBER OF COST SAVINGS INITIATIVES FOR 2021 FINANCIAL YEAR

* ALLIED ELECTRONICS CORPORATION - REVERSING 2020 SALARY INCREASES FOR SOUTH AFRICAN STAFF

* ALLIED ELECTRONICS CORPORATION - COST SAVINGS INITIATIVES ARE ESTIMATED TO SAVE IN REGION OF R500M Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below