Related Articles
Top Stories
May 21 2012 17:30
Mark Zuckerberg's fortune dwindled by nearly $2bn to $18.7bn within minutes as trading began again in Facebook shares – which promptly plunged by nearly $5.
May 22 2012 12:20
Power utility Eskom is concerned about meeting peak power demand as winter sets in although the situation should improve by mid-June, says CEO Brian Dames.
May 21 2012 18:36
The announcement of 19 successful bidders for the second phase of the renewable energy independent power producers' programme has received industry approval.
Johannesburg - High-technology group Allied Technologies (ALT) reported on Tuesday that it had lifted its diluted adjusted headline earnings per share by 21% to 259c for the six months to August 31.
The company saw operating profit before capital items lift 34% to R409m, off revenue growth of 13% to R4.533bn.
Headline earnings per share lifted 19% to 261c.
"Without doubt, the key highlight of the period was the ruling by the Pretoria High Court in favour of Altech Autopage Cellular permitting the company to have its existing value-added network services (Vans) licence converted into an individual electronic communications network service (I-ECNS) licence.
"The minister of communications has subsequently brought an application for leave to appeal the decision, which Altech will be opposing," said the company in a statement.
It added that continued innovation and strategic restructuring have positioned it well to meet the challenges of the prevailing economic climate in South Africa.
"Equally, the broader group is appropriately structured to manage the predicted convergence in the fields of voice, video and data in domestic and international markets."
With a strong order book and growing annuity revenue (which now represents 77% of group turnover), the liberalisation and deregulation of the telecommunications sector, Altech feels it is well positioned for "continued real growth" during the second half of the financial year.
- I-Net Bridge