http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.18Change: -0.01
R/$ = 10.53Change: 0.00
Au 1293.59 $/ozChange: 2.84
Pt 1468.50 $/ozChange: -1.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 29, 2009

Altech posts 17% increase in interim profit, sees more growth

Back
Kampala|Kigali|Africa|Altech Card Solutions|Altech NuPay|Kenya Data Networks|Projects|System|Systems|Africa|Democratic Republic Of Congo|Kenya|Malaysia|Rwanda|Uganda|Communications Platform|Mobile Data Services|Product|Products|Systems|Traffic Information Product|Altech Netstar|Craig Venter|Nokia 252C Cell Phone|Eastern Europe|Middle East|Broadband|GSM|ISP
|Africa|Projects|System|Systems|Africa||Products|Systems|||||
kampala|kigali|africa-company|altech-card-solutions|altech-nupay|kenya-data-networks|projects|system|systems-company|africa|democratic-republic-of-congo|kenya|malaysia|rwanda|uganda|communications-platform|mobile-data-services|product|products|systems|traffic-information-product|altech-netstar-person|craig-venter|nokia-252c-cell-phone|eastern-europe|middle-east|broadband|gsm|isp
© Reuse this



Information communications technology group Allied Technologies (Altech) expects to see continued growth in its businesses for the remainder of the financial year, owing to a strong order book, growing annuity revenue, the growth in East Africa and the liberation and deregulation of the telecommunications sector.

The group, led by CEO Craig Venter, on Tuesday reported a 14% increase in its net profit for the six months ended August 31, 2009, to R322-million, compared with R283-million the year before.

Revenues were up by 4% to R4,7-billion, compared with R4,5-billion in the first half of the 2008 financial year, while earnings a share increased by 13% to 283c a share, compared with 252c a share the year before.

Altech Autopage Cellular had connected 105 376 new contract subscribers during the first six months of the year, taking its total post-paid subscriber base to 850 433.

The average revenue per user had increased from February, but was still slightly down year-on-year, noted the group.

It added that revenues from the sale of mobile data services through add-on data bundles and cellular data connections continued to grow on a monthly basis. The active broadband and data subscriber base was 11% higher at 82 500.

Meanwhile, Altech Netstar had met budget expectations despite the continued weak economic conditions and a decline in motor vehicle sales.

The testing of the Netstar Global System for Mobile communications platform in Malaysia had been successful, with rollout planned to start during the second half of the year, the group highlighted.

The Altech Netstar Traffic business would "imminently" launch its traffic information product and solutions, following the conclusion of extensive testing of the technical data and systems.

The business could potentially become a strong revenue and profit driver for the Altech Netstar group.

The Altech Stream East Africa (ASEA) operations had "shown explosive growth" in the first half of the year, noted Altech.

The restructuring of the Internet Service Provider entities, in light of the arrival of submarine capacity into Converged Services Entities, was nearing completion, it added.

Further, Kenya Data Networks (KDN) had managed to connect submarine capacity from Mombassa, in Kenya to Kampala, in Uganda, and to Kigali, in Rwanda, through its 4 000 km terrestrial fibre network.

The East African operation was on track to achieve its targets for the year and had also received a full network operator licence in the Democratic Republic of Congo.

OTHER BUSINESSES

Meanwhile, the group reported that the Altech UEC business had recorded satisfactory results in the six months, with continued strong demand for the advanced set-top box (STB) decoder products it developed and manufactured.

It has also recently concluded a number of new contracts with broadcasters in Eastern Europe, the Middle East and Africa.

In order to meet additional demand for its products, Altech UEC has invested in manufacturing capacity in its Durban STB facility, as well as in additional manufacturing capacity in the Far East.

Further, the Altech Card Solutions business had recorded an "exceptional performance", as the transaction switching business had experienced good growth, owing to the addition of new customers during the trading period, said the group.

It added that the switching division was working on strategic projects that could make a substantial contribution in the second half of the year.

The transaction service provider and switching company, Altech NuPay, had also exceeded its profit targets despite the global economic downturn.

The launch of new reconciliation facilities to a broad market sector, as well as to individuals, would take place soon.

 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other ICT News
TONY SMALLWOOD New technology is ultimately heading towards creating communication between the connected car and the “smart city”
Updated 52 minutes ago As vehicles become increasingly technologically advanced, the future of the automotive industry is shifting towards the ‘connected car’ that can communicate with external sources, such as the vehicle manufacturer, says mobile network service provider Vodacom...
Updated 52 minutes ago Software-defined networking (SDN) is being applied at more than 30 projects in multiple industries worldwide to enable the real-time control and optimisation of data traffic on a fixed network infrastructure. These projects aim to create flexible and configurable...
Updated 52 minutes ago Internet Protocol- (IP-) enabled network equipment will enable the creation of software-defined networks that can intelligently manage complex and converged future networks and the continuous growth of bandwidth demand. This is the view of Chinese technology giant...
More
 
 
Latest News
Updated 7 hours ago Despite a degree of ambiguity around the transfer of small business-focused promotion programmes from under the auspices of the Department of Trade and Industry (DTI) to the newly formed Department of Small Business Development (DSBD), Small Business Development...
Olivier Blanchard
Updated 7 hours ago The International Monetary Fund (IMF) has once again lowered its 2014 growth forecast for South Africa to 1.7%, having previously forecast that Africa’s second-largest economy would expand by 2.3%. The 0.6% downward revision, which is contained in the World...
Updated 7 hours ago A study on the economic state of the City of Johannesburg’s (CoJ’s) economy has revealed lagging growth and a lack of diversification as the city struggled to return to pre-financial crisis growth levels. The ‘CoJ Economic Overview 2013: A Review of the State...
More
 
 
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
 
 
 
 
 
This Week's Magazine
Updated 51 minutes ago Multinational semiconductor chipmaker corporation Intel announced its national campaign to further acquire partners to drive its She Will Connect programme, an initiative that aims to expand digital literacy skills to young women in developing countries, further into...
Updated 53 minutes ago South Africa's MeerKAT radio telescope array programme should get back on schedule within a few months. This assurance has been given by SKA South Africa (SKA SA) associate director: science and technology Prof Justin Jonas. Early last month, Science and Technology...
Updated 53 minutes ago The Passenger Rail Agency of South Africa’s (PRASA’s) Metrorail service will remain a subsidised service following its current multibillion-rand rolling stock, station, depot and signalling upgrade programme. PRASA group CEO Lucky Montana has allayed fears that...
GARYN RAPSON Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will open the door for court battles to determine who will be held liable for the remediation
Updated 53 minutes ago The uncertainties around the remediation of affected areas as addressed in the Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will possibly spark litigation and disputes between landowners and businesses, contractors...
Updated 53 minutes ago South Africa is currently the largest component of the African Development Bank’s (AfDB’s) active portfolio in Southern Africa, comprising 62.5% of the bank’s $7.9-billion exposure to the 12-country region – the second largest beneficiary is Mauritius, which...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks