Altron expects half-year earnings turnaround
JSE-listed Altron on Thursday reported an expected improvement in its earnings for the six months ended August 31.
In a trading update, the company said it expected group headline earnings per share (HEPS) for the first half of the year to improve by between 209% and 217% to a range of 71c to 76c apiece, from the restated headline loss a share of 65c reported in the comparative six months in 2023.
HEPS from the continuing operations is expected to reach between 76c and 81c for the half-year under review, an increase of 171% to 189% from the restated HEPS of 28c in the prior comparative half-year.
Continuing operations include Netstar, Altron FinTech, Altron HealthTech, Altron Digital Business, Altron Security, Altron Document Solutions and Altron Arrow. It excludes Altron Nexus.
The first half period has been restated for the classification of Altron Document Solutions as a continuing operation.
Earnings per share (EPS) for the group will increase to between 67c and 72c in the six months ended August, equating to an increase of 177% to 183% from the loss a share of 87c in the first half of 2023.
For continuing operations, Altron expects EPS to increase between 387% and 407% to between 73c and 76c apiece, compared with the restated EPS of 15c reported in the six months ended August 31, 2023.
Altron will publish its interim financial results for the six months ended August 31, 2024, on November 4, 2024.
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