Technology firm Altron said on Thursday it expected its group earnings to swing back to profit in the six months to end-August
Headline earnings per share (HEPS) from group operations, which strip out the effects of one-off financial events, were expected to be between 71c and 76c for the period, compared with a loss of 63c in the previous comparable period.
HEPS from continuing operations were expected to be between 76c and 81c for the period, compared with 50c previously.
The group said its numbers for the half year had been restated for the classification of Altron Document Solutions as a continuing operation. As such, the percentage changes had been calculated using the restated results.
Restated HEPS from continuing operations for the prior comparable period now stand at 28c, while the loss from group operations stands at 65c.
Over the years, Altron has been shaving off businesses it deems to be noncore. In early 2022, the group sold its Document Solutions unit for R715m. But the deal fell through earlier in 2024. Since then, the group has decided to keep the business and has invested in its growth again.
Last month, Altron Arrow, another unit that had been on the chopping block, launched a new business process outsourcing service.
Continuing operations include Netstar, Altron FinTech, Altron HealthTech, Altron Digital Business, Altron Security, Altron Document Solutions and Altron Arrow, but exclude Altron Nexus.
Altron expects to release its earnings report on November 4.
By the close, Altron shares were 2.6% in the red at R17.99. They have rallied 83% so far this year.
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