Technology group Altron expects to report at least a 35% improvement in headline earnings per share (Heps) from continuing operations when it publishes its annual results next week.
In a revised trading statement to investors on Friday, Altron – which is led by CEO Werner Kapp – said it expects the Heps line to improve by between 35% and 38% in the year ended February 2024. Continuing operations exclude Altron Document Solutions, Altron Nexus and the “rest of Africa” operations.
Group Heps, however, will be a loss of between 24c and 26c, largely the result of non-cash adjustments raised in the interim reporting period, it said.
Comparative information has been restated for the classification of Altron Nexus as a discontinued operation as well as the net profit or loss arising from foreign exchange exposures relating to cash and cash equivalents that were previously disclosed in the operating profit and Ebitda lines. (Ebitda is earnings before interest, tax, depreciation and amortisation.)
“The net impact of these exposures has been reclassified and disclosed after operating profit as a separate line item on the statement of comprehensive income due to its nature,” Altron said.
Shares rise
The group will publish its annual results on Monday, with a presentation for investors scheduled for 9.30am.
Altron shares were changing hands nearly 4% higher shortly after 2pm in Johannesburg on Friday as shareholders digested the trading update. The share has added 50% to its value in the past 12 months (to Thursday’s market close). – © 2024 NewsCentral Media