Listed electronics and technology group, Altron, says that it expects headline earnings to drop by as much as 16% for the financial half-year ended 31 August 2014.<\/p>\n
Across its Altron TMT business, which comprises Altech and Bytes\u00b4 telecommunications, and other multimedia and IT businesses, the group produced pleasing results during the period under review, Altron said.<\/p>\n
The arm showed a growth in headline earnings, with the integration of Altech and Bytes has yielding further significant benefits during the last six months.<\/p>\n
Altech Autopage Cellular was an exception, having seen a decline in its profitability during the last six months – but a stronger second half is anticipated.<\/p>\n
Strong performances were recorded at Altech Netstar and the Bytes businesses, the group said.<\/p>\n
Altron Power (comprising the Powertech group\u00b4s businesses) also dragged on overall results, having experienced challenging trading conditions during the last six months.<\/p>\n
“The four week NUMSA strike in July severely impacted the business and this was exacerbated by the preceding mining sector strike,” Altron said.<\/p>\n
“Much of the decline was experienced in the Transformers business which also suffered from low demand and productivity issues.”<\/p>\n
Altron Corporate also dragged, having incurred a higher interest charge during the last six months due to the borrowings taken on to acquire the Altech minorities in August 2013.<\/p>\n
“Shareholders are advised that a reasonable degree of certainty exists that the company\u00b4s headline earnings per share for the financial half-year ended 31 August 2014 is expected to be between 10% and 16% lower as against the previous corresponding period.”<\/p>\n
Altron’s interim financial results for the half-year ended 31 August 2014 are expected to be announced on or about Wednesday, 8 October 2014.<\/p>\n
Altron sees stronger earnings<\/strong><\/a><\/p>\n Altron refinances debt from Altech acquisition<\/strong><\/a><\/p>\n