http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.69Change: 0.15
R/$ = 10.89Change: 0.06
Au 1185.34 $/ozChange: -14.88
Pt 1245.50 $/ozChange: -0.50
 
 
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 Tenders 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|Manufacturing|Mobile Data Services|Product|Products|Service|Services|Solutions|Systems|Traffic Information Product|Altech Netstar|Craig Venter|Nokia 252C Cell Phone|Operations|Eastern Europe|Middle East|Broadband|GSM|ISP
|Africa|Projects|System|Systems|Africa|Democratic Republic Of Congo|Kenya||Manufacturing|Products|Service|Services|Solutions|Systems|||Operations||
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|manufacturing|mobile-data-services|product|products|service|services|solutions|systems|traffic-information-product|altech-netstar-person|craig-venter|nokia-252c-cell-phone|operations|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 (150 word limit)
 
 
 
 
 
 
 
 
Other ICT News
MARIUS COETZEE Point-of-sale-based biometric verification is a critical aspect in reducing losses caused by identification fraud
In response to the growing need to prevent the losses that companies suffer as a result of identification fraud, identity management specialist Ideco is encouraging its clients to use biometrics technology to help them gather accurate information on their customers,...
WARREN OLIVIER Losing personal data can cause serious problems for a company’s customers
Every company needs to comply with the Protection of Personal Information (POPI) Act by ensuring that customers’ personal information is protected against loss and destruction. “Compliance prevents customer information from falling into the hands of people who could...
Master engineer and engineering consultant Bert Chapman has created an educational disc of engineering training materials based on real engineering problems, including their solutions, for engineers entering industry. The disc covers more than 35 electrical,...
More
 
 
Latest News
Updated 2 minutes ago The International Monetary Fund foresees large financing needs next year in the three West African countries hardest hit by the outbreak of the deadly Ebola virus. "The outlook for the Ebola-hit countries has worsened, with large financing needs likely for 2015," IMF...
Updated 26 minutes ago Over the past 20 years, there has been persistent concern about deindustrialisation in South Africa, as well as locally produced manufactured products having been increasingly displaced by imports. The very future of manufacturing has been called into question,...
South African Nuclear Energy Corporation (Necsa) group corporate services executive Ambassador Xolisa Mabhongo stressed on Thursday that South Africa currently had only one Integrated Resource Plan (IRP) for electricity, the IRP 2010, and that the IRP Update...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
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.
 
 
 
 
 
This Week's Magazine
In the next 20 years, it was expected that, in Africa, more people would live in cities and towns than in rural areas, United Nations Habitat executive director Dr Aisa Kirabo Kacyira said at the Human Settlements Indaba that took place earlier this month in...
Tough-talking Human Settlements Minister Lindiwe Sisulu has committed government to building 1.5-million low-cost houses over the next five years, telling the Human Settlements Indaba in Johannesburg on Wednesday that the State would achieve this target through the...
Over the past 20 years there has been persistent concern about deindustrialisation in South Africa, as well as the fact that locally produced manufactured products have been increasingly displaced by imports.
Financial agreement for Ghanian independent power producer (IPP) Cenpower Generation Company’s $900-million, 350 MW combined-cycle gas-turbine power plant was finalised earlier this month, paving the way for the project’s construction to begin before 2015 in Tema,...
The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted last week that recommendations were being considered to “detect and...
 
 
 
 
 
 
 
 
 
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