Altech headline earnings up
The company saw operating profit before capital items lift 34% to R409 million, off revenue growth of 13% to R4.533 billion.
Headline earnings per share lifted 19% to 261c.
“Without doubt, the key highlight of the period was the ruling by the Pretoria High Court in favour of Altech Autopage Cellular permitting the company to have its existing value-added network services (VANS) licence converted into an individual electronic communications network service (I-ECNS) licence.
"The Minister of Communications has subsequently brought an application for leave to appeal the decision, which Altech will be opposing,” said the company in a statement.
It added that continued innovation and strategic restructuring have positioned it well to meet the challenges of the prevailing economic climate in South Africa.
“Equally, the broader group is appropriately structured to manage the predicted convergence in the fields of voice, video and data in domestic and international markets.”
With a strong order book and growing annuity revenue (which now represents 77% of group turnover), the liberalisation and deregulation of the telecommunications sector, Altech feels it is well positioned for “continued real growth” during the second half of the financial year.
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