Altron sees improved earnings
Allied Electronics Corporation Limited (Altron) has advised that normalised headline earnings per share are expected to be between 10% and 15% higher for the half-year ended 2013.
Altron’s normalised headline earnings per share for the half-year period in 2012 amounted to 81 cents.
Altron, through its principal subsidiaries, Allied Technologies (Altech), Bytes Technology and Power Technologies, is invested in the telecommunications, multi-media, information technology and power electronics industries.
The group said in a trading statement on Wednesday (25 September) that headline earnings per share are expected to be between 0% and 5% higher against the previous corresponding period.
Basic earnings per share for the half year ended August 2013 is expected to be between 75 cents and 85 cents, compared to the previous corresponding period loss of 3 cents per share.
In October last year, Altron reported a loss after tax of R372 million for the six months ended August 2012, compared to a prior profit of R321 million, due to substantial impairments incurred by Altech.
Altech delisted from the JSE in August after Altron completed its 100% acquisition of the group.
Powertech Transformers
Powertech Transformers, a subsidiary of Powertech and Altron Group on Wednesday announced that it has received the majority share of the miniature substation contract from Eskom to the value of approximately R350 million.
The contract, which covers a two year period from August 2013 to July 2015, comprises miniature substations which will be supplied to Eskom nationally.
The miniature substations are intended for various housing developments throughout South Africa where Eskom supplies power.
These substations will be manufactured locally in Powertech Transformers’ Cape Town factory and transported from there to locations where they are required in terms of the Eskom contract.
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