Altech boosts profit, sees growth

South African technology firm Allied Technologies (Altech) posted a 19% rise in first-half headline earnings per share (EPS) on Tuesday and said it was well placed for real growth in the second half.

The company said headline EPS in the six months to end August rose 19% to 261 cents, while revenue increased 13% to R4,533-billion. Headline EPS is the main profit gauge in South Africa and strips out certain one-off, financial and non-trading items.

Altech said earlier this month it expected to report a 17% to 19% rise in headline EPS. Altech is majority-owned by holding company Altron.—.

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