News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise with us

Technology Opinion South Africa

News ICT Technology

Altron's spectacular fall from grace

At some point, JSE-listed Altron's bombed out share price is going to look like a bargain. But it's hard to know when that will be.
Altron CEO Robbie Venter
Altron CEO Robbie Venter

The Venter-run family business last week announced a loss of R1,1bn for the year to February, drowning the previous year’s loss of R60m. CEO Robbie Venter is currently on a roadshow to calm investors and explain the strategy going forward. This strategy, in a nutshell, is to ditch “non-core” businesses that have sucked the life out of the company and reposition itself as a telecommunications, multimedia and technology group, which is where the money is.

Altron’s share price face-planted from about R29 in June 2014 to R6,15 last week - back where it was 20 years ago. In August last year, Old Mutual Investment Group announced that it had offloaded a sizeable chunk of its shareholding in Altron and this seems to have triggered the latest slide.

Continue reading the full article on TechCentral.

Source: TechCentral

Founded by Duncan McLeod, TechCentral is the leading quality news and information resource for people involved in South Africa’s fast-growing information and communications technology industry and those interested in the fast-changing world of information technology. It provides quality news, reviews and comment relevant to its quickly expanding audience. Follow TechCentral on Twitter at TechCentral, become a Facebook fan and subscribe to the daily newsletter.

Go to: http://www.techcentral.co.za
Let's do Biz