Altron says turnaround is ‘complete’ as earnings surge

Altron’s turnaround is complete, CEO Mteto Nyati said on Thursday after the technology group said full-year earnings rose about a quarter.

But its fortunes have changed since Value Capital Partners invested R400m in December 2016 and Nyati took over as CEO in April 2017. Nyati has focused on growing earnings, offloading the group’s manufacturing assets and reducing debt.Altron said normalised earnings before interest, tax, depreciation and amortisation from continuing operations rose 24% to R1.6bn in the year to end-February.

Ebitda rose 41% in the rest of Africa while the European business grew ebitda 80%, thanks to the Bytes UK business.Group net debt fell to R1.6bn from R1.9bn a year before.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Altron says turnaround is ‘complete’ as earnings surgeGross revenue jumps 30% as CEO Mteto Nyati focuses on offloading manufacturing assets and reducing debt
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Altron says turnaround is ‘complete’ as earnings surgeGross revenue jumps 30% as CEO Mteto Nyati focuses on offloading manufacturing assets and reducing debt
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

BUSINESS MAVERICK: The dividend/growth balance: Anglo’s truly amazing debt turnaroundGetting the debt/dividend balance right is tricky — very tricky for mining companies. Pile up too much cash, investors get antsy. Buckle to investors’ immediate desires, long-term growth gets hit. Years of divesting from non-core assets and implementing stringent spending programmes have allowed Anglo American to significantly reduce its debt load to US$4.5bn in June 2018, down from a peak of US$14.1bn in June 2015. In 2019 it was able to commit to 40% of cash resources to a dividend payout.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

AB InBev eyes Hong Kong listing as it misses earnings expectationsThe brewer says the merits of a listing ‘are based upon the creation of an Asia-Pacific champion in the consumer goods space’
Fuente: BDliveSA - 🏆 12. / 63 Leer más »

Mondi reports strong first-quarter earnings growthUnderlying earnings will be affected by higher maintenance costs in 2019, the group says, although it saw lower costs in its first quarter
Fuente: BDliveSA - 🏆 12. / 63 Leer más »