JSE-listed technology group Altron said on Wednesday that its headline earnings per share (Heps) will fall by as much as 29% because of the disposal of its Bytes UK arm and weak trading conditions.
The “de-merger” of Bytes Technology Group, which was finalised in December, will lead to a once-off jump of over 100% in basic earnings per share for the year to 28 February 2021, Altron said in a statement to shareholders.
Heps, which excludes the profit from the de-merger, was negatively impacted as Bytes UK was “previously a material component of the Altron Group earnings”.
The expected fall in Heps is also due to “poor economic activity and the trading restrictions brought about by the Covid-19 pandemic”. Heps will decline by between 21% and 29%, it said.
Altron said it will publish its annual results on 17 May. — (c) 2021 NewsCentral Media