Technology group Altron expects its full-year earnings from continuing operations to be as much as 75% higher.
The group said in a statement on Tuesday that its headline earnings per share (HEPS) from continuing operations for the year to end-February would be 68%-75% higher at 173c-180c.
Continuing operations include Netstar, Altron FinTech, Altron HealthTech, Altron Digital Business, Altron Security, Altron Document Solutions, Altron Arrow and excludes Altron Nexus.
Its total HEPS are expected to be between 131c and 136c compared with a restated loss of 29c a year ago.
The previous period was affected by provisions and impairments.
The group said in February that its vehicle tracking unit Netstar surpassed 2-million subscribers, driving revenue growth and double-digit increases in earnings before interest, tax, depreciation and amortisation (ebitda) and operating profit. However, softer trading conditions in the second half of the year, primarily attributable to sustained pressure in the Australian market, affected performance.
Altron has been under pressure to expand units such as Netstar after the unbundling of Bytes Technology. Once a dominant presence in the sector, Netstar had lost ground to competitors such as Mix Telematics, which recently merged with Powerfleet, and Karooooo-owned Cartrack.
The company will release its annual results on May 26.
With Mudiwa Gavaza
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.