JSE-listed Allied Electronics (Altron) expects to report a 80% to 100% decline in earnings for the six months ended August 31, 2021.
The company anticipates a basic loss a share of between 3c and 16c in the six months to August this year, a more than 100% decline on the basic earnings a share of 69c reported in the comparative period last year.
Reported headline earnings per share is expected to be between 0c and 13c apiece, a reduction of between 81% and 100% when compared with the 67c recorded in the prior comparative period.
“The decrease in both basic earnings per share and headline earnings per share is a direct result of the inclusion of Bytes Technology UK reported results in the first six months of the prior year, which was a material component of Altron Group’s continuing operations before it was disposed on December 17, 2021,” the company said in an update to shareholders.
Excluding the results of Bytes UK from the six months ended August 31, 2020, within the Altron group and the continuing operation’s performance, Altron reported a between 45% and 90% improvement on the normalised basic loss a share of 29c in the period to August 2020. The comparative normalised headline loss a share of 27c in the prior period will show an improvement of between 100% to 148% during the first half of 2021.
For the company’s continuing operations, earnings per share will reach 7c to 11c, an improvement on the 10c loss reported in the six months to August 2020, while headline earnings a share on a normalised basis is expected to increase to between 9c and 13c apiece, from a loss of 8c a share in the comparative period last year.