Alaris revenue soars 102%

·30 Sep 2015

AltX listed technology holding company, Alaris has reported a 102% rise in revenue from R95.9 million in 2014 to R193.0 million in 2015.

Alaris, previously known as Poynting Holdings, is a technology group specialising in defence, antennas and digital television broadcast equipment.

It said that normalised earnings per share from continuing businesses increased by 41% from 11.6 cents to 16.4 cents.

Continuing headline earnings per share (HEPS) increased from 6.1 cents to positive 18.2 cents.

“As with the financial results for 2014, this year’s results include items and IFRS reporting requirements which are not representative of the true performance of the underlying operations of the group,” said CEO, Juergen Dresel.

The biggest distortion is the complex accounting treatment of the African Union Communications (Aucom) contingent consideration shares for which a contingent consideration asset was raised for the estimated value of recallable shares at the end of the earn out period which expires on 30 June 2016. This was valued at R22.2 million.

Alaris Antennas, which designs and manufactures specialised broadband antennas as well as other related radio frequency products, continued to deliver good growth, with revenue increasing by 15% to R88.4 million.

Profit after tax (PAT) also increased by 29% from R16.2 million last year to R20.9 million in 2015.

Specialising in the design and implementation of integrated broadcasting systems, Aucom, posted results that were lower than expected mainly due to the delay of certain large orders for customers that were expected to materialize in 2015, the company said.

Revenue remained above the R100 million with PAT of R7.3 million.

The discontinued Compart businesses were consolidated up to 31 December 2014. These operations recorded a loss of R6.3 million mostly as a result of low margins, Alaris said.