Altron has been one of the best-performing shares on the JSE this year, which shows that the market trusts the company, its management, and its chief executive.
On 1 October 2022, Altron appointed Dimension data stalwart Werner Kapp as the company’s chief executive. Continuing headline earnings per share and continuing earnings per share will be at least 20% higher than the comparative six months ended 31 August 2023. This puts Altron into the pool of top-performing shares on the JSE for 2024, which shows it is the preferred technology stock among many investors.Altron announced in April 2020 that it would spin off Bytes UK separately on the London Stock Exchange as Bytes Technology Group Limited.
Bytes was also Altron’s biggest profit driver. In the final two years that Bytes’ results were reported within the Altron group, it contributed more than 80% of Altron’s total net income. In the past financial year, Altron Nexus was not awarded the contract to work on phase 3 of the Gauteng Broadband Network project after working on phases 1 and 2.