Altech contributed 41% of the R9 billion Altron group turnover, and management says Altech is looking at several international acquisitions.
Listed electronics, telecoms and IT company Altron grew its turnover for the year to February by 29% reaching the R9 billion mark, with R1 billion coming from export sales.
With Robert Venter now at the helm as CEO, the group has slimmed down, selling off non-core subsidiaries, de-listing Autopage and Ventron, and integrating all of Fintech`s IT operations into Bytes Technology Group (formerly Usko).
The restructuring has seen Altron grow its operating income by 16% from R540 million to R627 million, with attributable earnings increasing 16.5% to R298 million.
Headline earning crossed the finish line up 19% from 85.2c to 101.5c per share.
Subsidiary Altech has increased its turnover to R3.7 billion, accounting for 41% of the group`s turnover. Headline earnings per share grew from 153.3c to 223.1c, an increase of 45.5%.
Altech is currently evaluating several offshore acquisitions as part of its plan to increase its global exports to cushion the effects of a weaker local market.
Bytes Technology reported an operating loss for the year of R59.2 million, but Venter says the group should claw its way back into the black in time for its interim results.
"There is no doubt that we are rapidly becoming a healthier, stronger organisation energised with a new entrepreneurial operating culture and fuelled by the twin engines of innovation and diversity.
"The winners of the new-age economies will certainly not be the companies that merely strap an 'e` onto old habits. They will be those companies which use innovative technologies and the convergence of systems to transform processes, products, delivery and pricing. We see ourselves as a nimble, responsive organisation focused on the needs of our customers, while taking advantage of the rapid changes in the environment around us," says Venter.
A dividend of 31c per share has been declared.
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