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Altron slumps after earnings warning

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Technology company says the decline is largely due to the exclusion of its Bytes business in the UK which has been spun off

Altron shares slumped almost 4% on Thursday after the company forecast full-year earnings will plunge by as much as three-quarters on the back of impairments and the exclusion of Bytes UK’s results.

The stock was trading at R8.79, down 3.83% at 1.19pm after reporting that group headline earnings per share for the year ended February are expected to between 32c and 42c, down 69%-77% from 136c a year...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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