Altron will later this month report an earnings jump for the six months to August, after side-stepping macro-economic hindrances to record double-digit growth in earnings.
The JSE-listed tech group told investors yesterday that it will report a basic earnings increase of between 300% and 322%, while headline earnings are expected to go up by between 450% and 483%.
The company says continuing operations − particularly Altron Managed Solutions, Altron Karabina, Altron Fintech and Altron Arrow − executed well despite well-documented challenges within the economy and markets.
In addition, Altron says the performance of Lawtrust, acquired in April 2021, has positively contributed to the performance of the continuing operation for the first six months of the current year.
Altron bought the digital signatures services company from Etion for R245 million, saying as online identity management grows in importance, the Lawtrust acquisition positions it as a single source for digital and security solutions.
Yesterday, the company also notified investors that from February, the board reclassified Altron Arrow, which was previously reported in discontinued operations, to continuing operations, as the criteria of IFRS 5 were no longer met, which also contributes positively to the current year’s performance.
Resultantly, Altron says the group will report basic earnings per share of between 23c and 25c, which is an increase of between 330% and 350%, compared to the loss per share of 10c for the comparative period.
Headline earnings per share is expected to be between 33c and 35c, which is an increase of between 450% and 483% compared to headline earnings of 6c for the prior comparative period.
The company’s results are expected to be published on 24 October.
The upcoming set of results will be the first for Werner Kapp, who recently joined the group as CEO, replacing Mteto Nyati, who exited the company in June.
Kapp, the former Dimension Data boss, took the responsibility of steering the company through its all-important Altron 2.0 strategy, which seeks to triple operating income, among other metrics.
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