Altron expects strong revenue and profit growth

Altron has released a trading statement for the six months ending 31 August 2024, revealing that it expects strong continuing earnings per share and headline earnings per share growth.

It anticipates, with a reasonable degree of certainty, that these figures will be at least 20% higher than in the six-month period ended 31 August 2023.

“Group earnings and headline earnings per share will be at least 20% higher than the comparative period,” it said.

Altron said its FinTech, HealthTech, and Netstar businesses grew revenue, earnings before interest, taxes, depreciation and amortization (EBITDA), and operating profit.

“Within the IT Services segment, Altron Digital Business has delivered year-to-date revenue growth in line with the market, as we start to see the early benefits of the new sales operating model taking effect,” it added.

However, it noted that it anticipates softer EBITDA and operating profit growth in this segment. This is due to non-recurring project expenses relating to historic contracts.

It added that Altron Security benefited from corrective actions taken during the reporting period, and it expects the business to report modest growth in EBITDA and operating profit.

It said its strong performance in the second half of the 2024 financial year is due to the successful implementation of profit improvement strategies and target operating models in Altron’s continuing operations and Altron Document Solutions.

“This positive momentum has continued into the 2025 financial year (“FY25″), leading to a stronger year-to-date performance in comparison to the Comparative Period, which was negatively impacted by provisions and impairments raised,” it added.