{"id":198508,"date":"2017-09-13T11:36:59","date_gmt":"2017-09-13T09:36:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=198508"},"modified":"2017-09-13T11:36:59","modified_gmt":"2017-09-13T09:36:59","slug":"altron-expects-improved-interim-earnings","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/198508\/altron-expects-improved-interim-earnings\/","title":{"rendered":"Altron expects improved interim earnings"},"content":{"rendered":"<p><span class=\"st\">JSE-listed Allied Electronics Corporation (Altron) has advised that it expects <\/span>headline earnings per share for the six months ended August 2017 to be between 16% and 36% higher than 31 cents in the previous corresponding period.<\/p>\n<p>Basic earnings per share is expected to be a profit of at least 20 cents against the previous corresponding period&#8217;s six cents.<\/p>\n<p>Altron said its financial results have been split between continuing and discontinued operations in accordance with IFRS criteria.<\/p>\n<p>In this regard, the entire Powertech group, Altech Autopage and Altech Multimedia continue to be classified as discontinued operations for reporting purposes.<\/p>\n<p>On a normalised basis, both EBITDA and headline earnings in the continuing operations are\u00a0 expected to show growth in excess of 10%, Altron said.<\/p>\n<p>&#8220;The normalisation relates to significant once-off restructuring costs in the current period which will reduce overheads going forward, and the results of businesses closed in the prior corresponding period,&#8221; it said.<\/p>\n<p>Prior to the normalisation adjustments, Altron said that headline earnings per share for the company\u2019s continuing operations is expected to be between 13% and 17% lower at 45 cents &#8211; 47 cents versus 54 cents before.<\/p>\n<p>Basic earnings per share is expected to be between 41 cents &#8211; 45 cents,\u00a0 or 16% and 24% lower than in 2016.<\/p>\n<p>For discontinued operations the headline earnings per share is expected to show a loss of between five cents &#8211; nine cents versus a prior loss of 23 cents.<\/p>\n<p>Basic earnings per share is expected to be a loss of between 14 cents \u2013 22 cents compared to a loss of 48 cents in 2016.<\/p>\n<p>Altron said it expects to publish its results on 25 October 2017.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/it-services\/174439\/altron-reports-26-drop-in-revenue\/\" target=\"_blank\" rel=\"noopener\">Altron reports 26% drop in revenue<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Altron has advised that it expects headline earnings per share for the six months ended August 2017 to be between 16% and 36% higher than 31 cents in the previous corresponding period.<\/p>\n","protected":false},"author":10,"featured_media":51695,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[31],"tags":[309],"class_list":["post-198508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-altron"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/198508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=198508"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/198508\/revisions"}],"predecessor-version":[{"id":198514,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/198508\/revisions\/198514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/51695"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=198508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=198508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=198508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}