Altron Heps to fall on Bytes disposal, weak economy - TechCentral

Altron Heps to fall on Bytes disposal, weak economy

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

Now read: Bytes demerger created R7-billion in shareholder value: Altron

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