Altron shares jump 8% after forecasting 30% earnings growth
ICT
Altron said Warren Mande as chief operating officer at its subsidiary Netstar.
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Altron's share price leapt over 8% on the JSE in early trading Thursday after it predicted earnings growth of at least 30% for the year to February 29, 2026.
The share price increased by 8.3% to R21.02 on the JSE in the morning. The share price a year ago was R21.49, and the price has fluctuated in a range over and under this price during the course of the year.
The ICT group said in a trading statement that headline earnings per share (HEPS) from continuing operations are expected to be bigger than 231 cents for the financial year, when compared with the 178 cents per share reported for the previous financial year.
Likewise, earnings per share from continuing operations are expected to increase by more than 30% and be more than 203 cents compared with 156 cents reported last year.
Headline earnings per share from group operations are expected to increase by more than 30% or 203 cents, compared with 156 cents per share previously.
The company is expected to publish a voluntary update ahead of its pre-close period on February 28, 2024.The group's continuing operations include Netstar, Altron FinTech, Altron HealthTech, Altron Digital Business, Altron Security, Altron Document Solutions, Altron Arrow and excludes Altron Nexus.
Netstar and Altron Document Solutions (ADS), two leading business units in the group, also announced new leadership appointments.
Yolanden Moodley was appointed as MD of Altron Document Solutions and Warren Mande as chief operating officer at Netstar. Altron CEO Werner Kapp said in a statement: "By empowering proven leaders through our high-performance culture and maintaining customer obsession at the heart of our purpose-driven strategy, Altron is positioning both businesses to deliver sustained revenue growth and exceptional stakeholder results."
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