Altron warns its earnings will fall
Allied Electronics Corporation Limited (Altron) advised that a reasonable degree of certainty exists that the company's headline earnings per share for the financial year to February are expected to be down by between 27% and 32% compared with the previous period.
"Headline earnings per share has been affected by a very challenging second half for the Powertech‚ particularly in the cables business‚ as well as the trading losses incurred by Altech's East and West African operations prior to their disposal. Bytes has performed in line with expectations‚" the group said.
Basic earnings per share for the financial year are expected to reflect a loss of between 91c and 99c‚ as against a profit of 55c in the previous corresponding period.
Altron's annual financial results for the year are expected to be released on Securities Exchange News Service early in May.
Source: I-Net Bridge
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