Altron expects double-digit earnings increases from continuing operations
JSE-listed Altron expects to deliver higher earnings from continuing operations for the year ended February 28, 2024.
In a revised trading statement on Friday, Altron said that its headline earnings per share (HEPS) for continuing operations are expected to be 35% to 38% higher, at between 115c and 117c in 2024, from the reported 85c in 2023.
However, Altron estimates a group headline loss a share of 24c to 26c, compared with the HEPS of 29c reported in the year before, largely impacted by the noncash adjustments raised in the interim results for the six months ended August 31, 2023.
The noncash adjustments also impacted earnings per share (EPS) in the year under review.
While Altron’s EPS from continuing operations is estimated to be between 107c and 109c, representing an increase of between 45% and 47% compared with 74c in the prior year, overall, Altron expects to report a widened loss a share of 43c, compared with the loss a share of 1c reported in 2023.
Continuing operations excludes Altron Documents Solutions, Altron Nexus and Altron Rest of Africa.
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