Altron warns its annual earnings likely to fall 29% on Covid-19 disruption
By Sandile Mchunu
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DURBAN - ALLIED Electronics Corporation (Altron) yesterday warned that its full-year earnings were likely to fall as much as 29 percent, partly because of poor economic activity and the trading restrictions put in place to limit the impact of Covid-19.
As a result, Altron said in a trading update, it expected its headline earnings per share (Heps) for the year to the end of February to decline by between 21 percent and 29 percent, to between 124 cents and 137c a share, down from the restated figure of 174c reported a year earlier.
Trading statement from Altron it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.
Altron Heps to fall on Bytes disposal, weak economy
JSE-listed technology group Altron said on Wednesday that its headline earnings per share (Heps) will fall by as much as 29% because of the disposal of its Bytes UK arm and weak trading conditions.
The “de-merger” of Bytes Technology Group, which was finalised in December, will lead to a once-off jump of over 100% in basic earnings per share for the year to 28 February 2021, Altron said in a statement to shareholders.
Heps, which excludes the profit from the de-merger, was negatively impacted as Bytes UK was “previously a material component of the Altron Group earnings”.
London open: Stocks dip despite tentative moves to reopen international travel
Mon, 26th Apr 2021 08:38
(Sharecast News) - Stocks are coming under a little bit of selling pressure at the start of trading on Monday as investors monitor the headlines out of Asia concerning the epidemic and its possible impact on economies. The slow, but steady increase in Covid-19 cases across Asia, ex-India, is weighing on sentiment in early Asian trading. India s situation dominated the weekend press, but across Japan, South Korea and Thailand and others in between, Covid-19 is undermining confidence in cyclical recovery that many, including the author, has priced into their H2 2021 outlooks, said Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA.
Altron declares special dividend it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.