Altron has published its annual results for the year ended 29 February 2024, revealing a revenue decline of 2% and a swing from a R13 million profit to a R141 million loss. However, the company said it is performing much better than these numbers suggest.
Altron noted that it offloaded several subsidiaries, including its automated teller machine business, Altron Documents Solutions, Altron Nexus, and Altron Rest of Africa. — a jump of 46% — when comparing the previous year’s results that included its ATM business to this year when excluding all discontinued operations.“We are guided by a clear strategy to become the leading platform and IT services business in our chosen markets,” said Werner Kapp, CEO of Altron.
Regarding selling its ATM hardware and support business, Altron concluded the sale to NCR in July 2023.