Altron to move on new strategy as H1 performance tumbles

Despite JSE-listed Allied Electronics (Altron) having failed in the first half of the year to recover from its disappointing 2015 financial year losses, CEO Robert Venter assured that the worst was behind the company as corrective action taken should see the challenged units removed from the bottom line. The faltering performance of several units in the financial year to February 2015 had sent headline earnings per share (HEPS) plunging 50% to 94c, with the company swinging to a loss of R60-million for the year, from a profit of R775-million in the prior financial year.