https://www.engineeringnews.co.za

Altron to report lower FY earnings

22nd January 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JSE-listed Allied Electronics (Altron) has embarked on remedial measures after determining that its earnings for the 2015 financial year were likely to plunge.

In a trading update to shareholders on Thursday, the group said it expected basic earnings a share for the financial year under review to be more than 50% lower than the 192c apiece recorded in the prior financial year.

The group’s headline earnings a share for the financial year ending February 28, 2015, were expected to be more than 40% lower than the 188c achieved in the 12 months to February 2014.

“The Altron group’s financial performance has been negatively affected by difficult trading conditions and, in particular, by a significant reduction in demand from certain key customers,” it said.

The company warned at its interim results that the second half of the year would be tough amid the current challenges being experienced by public sector organisations in South Africa, which would affect Altron Power.


Altron also noted that its Telecommunications, Multimedia and Technology (TMT) division would be weighed down by the start-up of Altech Node and the investment into its commercial launch last year.

Meanwhile, the group on Thursday also issued a cautionary notice, stating that it had entered undisclosed discussions and negotiations.

An updated trading statement would be published prior to the release of Altron’s financial results on May 13.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.238 0.29s - 137pq - 2rq
Subscribe Now