JSE-listed Altron achieved adjusted headline earnings per share of 139c for the year to end-February, just 2c or 1.5% up on the previous year.
Revenue fell from R11.4 billion to R10.05 billion which CEO Robert Venter says is a result of the proportional consolidation of the group`s jointly managed operations for the first time, together with the effect of the strong rand.
Operating income before goodwill amortisation and capital items fell from R909 million to R718 million while pre-tax income of R746 million compared with a previous R1.17 billion. After-tax income fell from R878 million to R494 million.
The group`s telecommunications businesses accounted for 37% of revenue and 35% of operating income. Electronics and multimedia contributed 36% of revenue and 32% of operating income while IT generated 28% of revenue and 30% of operating income.
Corporate, financial services and eliminations accounted for a negative 1% of revenue and 3% of operating income.
The balance sheet remains healthy, with cash of R2 billion, up from R1.5 billion a year before, which Venter says enables the group to take advantage of further acquisition opportunities.
The board has declared a dividend of 52c a share, 21% up on last year`s dividend of 43c.
Chairman Bill Venter says the group is confident about the prospects of its various businesses. "The South African economy remains strong, the political climate is favourable and the medium-term positive outlook is reflected in our increased order book for the new year."
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