http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.69Change: -0.06
R/$ = 10.62Change: -0.04
Au 1292.07 $/ozChange: 2.02
Pt 1410.50 $/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
 
Nelson Mandela 1918 - 2013   Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science & 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|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|Systems|Traffic Information Product|Altech Netstar|Craig Venter|Nokia 252C Cell Phone|Eastern Europe|Middle East|Broadband|GSM|ISP
kampala|kigali|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|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 Telecoms News
Updated 7 hours ago Local antenna manufacturer Poynting Holdings reports high growth of its defence equipment order book, offset by losses in other divisions, and notes that about 68% of its earnings stem from exporting equipment mainly to developed markets, says Poynting CEO Dr André...
Updated 7 hours ago Only 26% of new information technology (IT) systems produce the intended results in companies, according to a new study involving 1 012 large firms employing more than 1 000 people in the UK, France, Germany, Switzerland, Italy, Spain, Benelux, Russia and South...
The extensive compliance processes instilled to regulate the manufacturing of the set-top boxes (STBs) required for South Africa’s migration to digital terrestrial television (DTT) have emerged as a serious weakness as industry gears up for the imminent and...
More
 
 
Latest News
A new business association has been formally launched to link foreign suppliers of equipment to State-owned companies (SoCs) with large and small domestic companies in an effort to improve prospects for higher levels of local content in South Africa’s...
The Nelson Mandela Bay municipality has upgraded its Department of Human Settlements’ centralised information centre (CIC), introducing a new integrated land planning information system (ILIS) and refurbishing the interior and exterior of the centre, using...
The KwaZulu-Natal (KZN) Department of Transport on Thursday announced a 77.3 km, R1.2-billion road upgrade that would connect Pongola and eDumbe, in the north western part of the province. The project, of which the first 6.5 km, R65-million, construction phase had...
More
 
 
Recent Research Reports
Steel 2014: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2014 report provides an overview of the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon steel and stainless...
Projects in Progress 2014 - First Edition (PDF Report)
This publication contains insight into progress at the delayed Medupi and Kusile coal-fired projects, in Mpumalanga and Limpopo respectively, as well as at the Ingula pumped-storage scheme, which is under construction on the border between the Free State and...
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
 
 
 
 
 
This Week's Magazine
Updated 7 hours ago Celebrating its fiftieth Green Star SA certification in only six years, and with a further 150 projects in the Green Star SA registration pipeline, the impact will increase significantly. “In South Africa, certified new green buildings now cover nearly one-million...
SMART MOVER What differentiates VWSA’s AGV line from other AGV lines is that it is a completely contactless system
Updated 7 hours ago Volkswagen Group South Africa (VWSA) has installed an automated guided vehicle (AGV) line to replace the traditional roller conveyor used on the VW250 engine line. An AGV is a mobile robot that follows markers or cabling in the floor, or uses vision or lasers to...
Updated 7 hours ago South Africa has an opportunity to achieve a similar result to that of China, which has lifted hundreds of millions of its citizens from poverty to prosperity, but the challenge is to develop world-class customer-focused engineers.
Updated 7 hours ago South Africa had more than enough money and resources to deliver on the constitutional promise of quality of life for all, but those involved in corruption have cost the country immensely.
LATE-ARRIVAL BMW The arrival of the i8 supercar has been delayed to March 2015
Updated 7 hours ago BMW South Africa has postponed the introduction of the i3 city car and i8 supercar to March 2015, says spokesperson Edward Makwana. The i3 is an electric vehicle, and the i8 a plug-in hybrid. Both models were scheduled for local introduction this year.
 
 
 
 


 
 
 
 
 
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