JSE-listed Altron expects to report a 58% to 78% increase in headline earnings per share (HEPS) for continued operations to between 49c and 55c for the twelve months ended February 28.
However, the impairments on certain intangible assets have negatively impacted earnings, with basic earnings per share (BEPS) for continued operations expected to be between 18c and 22c during the year under review, a 3% to 23% decrease on the prior year.
Overall, Altron will report HEPS of between 32c and 42c, which is a reduction of between 69% and 77% compared with the 136c reported in the comparative period last year.
The company expects BEPS to fall to a loss of between 26c and 33c, a decrease of between 100.8% and 101% compared with the earnings of 3 270c reported in the prior comparative period.
“The group’s decrease in both BEPS and HEPS is a direct result of the inclusion of Bytes Technology UK in the prior year's results, which was a material component of Altron Group before it was disposed on December 17, 2020,” Altron commented in an update to shareholders on Thursday.
“The company has excluded Bytes UK’s results from the year ended February 28, 2022, and the board has reclassified Altron Arrow from discontinued operations to continuing operations and Altron Rest of Africa from continuing operations to discontinued operations in line with the criteria of IFRS 5."
Altron expects to publish its financial results for the year on May 16.