Altron has notified shareholders that its basic earnings per share for the full year are set to leap 200%.
The listed group, which last year bought Altech minorities out in a R1.8 billion deal, says this is mostly due to an improved operating performance and the lack of once-off impairments for the 12 months to February 2013.
However, headline earnings per share will only gain 20%, says Altech in a trading statement. Analysts view headline earnings as core indicators of a company's performance, as this figure strips out activity that is not related to the company's core business.
The statement, published this morning, sent Altron's shares 4.26% higher, to R24.50, in intra-day trading.
Last year, revenue gained 7%, to R24.8 billion, while net profit from continuing operations gained 12%, to R707 million. However, discontinued operations made a R10 million loss.
Its basic earnings per share came in at 153c, while headline earnings per share were 136c.
At the end of its 2013 period, subsidiary Altech disposed of its loss-making East African operations at a loss. It also sold out of West Africa, but this legacy affected some of last year's numbers, which were also weighed down by impairments.
Altron's 2012 results were also affected by impairments. "Our overall results were impacted by operating losses from the Altech African operations and a disappointing performance from Powertech in the second half of the year," said CEO Robert Venter.
The company says it will issue a further trading statement "in due course to provide shareholders with a business update on the Altron group's performance during the past six months and to provide earnings forecast ranges for earnings per share and headline earnings per share."
Its results will be published on 14 May, as the country's national and provincial elections will be held on 7 May, it says.
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