South African technology firm Allied Technologies (Altech) lifted full-year headline earnings per share (EPS) by 10% and said on Tuesday it expected real growth in the current year.
Altech said headline EPS — the key profit measure for South African firms, which excludes non-trading, capital and certain extraordinary items — rose to 418 cents, while revenue increased 12% to R6,8-billion.
The group said net asset value per share increased to R18,63 from R17,21.
The group said its ability to capitalise on data growth in the future boded well for the year ahead.
”Altech’s ability to capitalise on future [broadband] data growth and related opportunities, including increasing its presence in global high-growth emerging markets, coupled to a prudent approach to acquisition opportunities, augur well for Altech’s performance over the following 12 months,” Altech CEO Craig Venter said in a statement.
Cash-rich Altech, which has interests in cellphone providers, vehicle-tracking firms and other IT companies, is looking for acquisitions to expand in its core telecoms and IT business. — Reuters