JSE-listed technology group Altron said on Wednesday that its headline earnings per share will fall by as much as 29% because of the disposal of its Bytes UK arm and weak trading conditions.
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Altron shares rallied more than 20% on Thursday after the technology services group reported solid interim results despite the Covid-19 pandemic and said it was proceeding with plans to list its Bytes UK business.
Altron has decided to move ahead with the planned listing of its Bytes UK subsidiary on the London Stock Exchange in an effort to unlock value for shareholders.
JSE-listed technology group Altron has cut its final dividend by 24% to 55c/share to preserve cash amid the economic upheaval created by the Covid-19 pandemic.
JSE-listed technology group Altron looks set to list its UK subsidiary, Bytes Technology Group, in an effort to further unlock shareholder value.
In this podcast, Altron CEO Mteto Nyati talks to TechCentral’s Duncan McLeod about the group’s decision to explore the unbundling and listing of its Bytes UK subsidiary on the London Stock Exchange.
The turnaround at Altron is gathering steam, reporting a 50% improvement in full-year headline earnings per share from continuing operations.
On the back of a strong set of financial results for the year ended 28 February 2018, technology group Altron has said it plans to resume dividend payments from its next set of interim results, due after August
Bytes UK, a subsidiary of JSE-listed technology group Altron, has secured a contract with the UK’s National Health Service worth £150m (R2.5bn). The £30m/year, five-year deal saw Bytes UK take the tender in
Altron subsidiary Bytes UK has agreed to buy 100% of Blenheim, the holding company of British value-added reseller Phoenix Software, for £35.9m, or about R650m. The deal will be funded through a combination