Altron Group chief executive, Werner Kapp, said: “As a group, we delivered 15% revenue growth, operating income growth of 57%, while decreasing our net working capital by R47 million. This equates to headline earnings per share growth of just over 460% for the period.
Altron is in the advanced stages of the disposal of its banking business from Altron Managed Solutions. In the first half-year, Lawtrust recorded an EBITDA contribution in excess of the original business case, showing that it has been successfully integrated into the Altron Security business. The conflict in Ukraine and the prolonged macroeconomic effects of the pandemic have influenced the shape of local and global economic recovery. A surge in general inflation driven by increased fuel prices, the effects of the floods in Kwazulu-Natal and the increased frequency of load shedding have all contributed to the decline of an already fragile local economy, it said.
Altron FinTech’s revenue of R542 million is 35.5% up on the prior year, while its operating profit of R132 million grew by 71.4% reflecting enhanced margins.