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Johannesburg - Allied Technologies [JSE:ALT] on Tuesday reported a 28% decline in diluted headline earnings per share to 204 cents for the six months ended August 2010 from 281 cents a year ago.
Revenue was flat, at R4.79bn from a previous R4.73bn rand, while operating profit declined to R361m from R479m before.
The company said the continued difficult general economic conditions and the global market stagnation impacted on certain of the market segments in which the Altech Group operates. It said it was cash positive at half-year end at R318m.
The group believes that the second half performance will be much improved on its first half-year as certain adverse factors which were specific to the first half-year will not recur.
Going forward, there will be a continued focus on capitalising on convergence within the technology, multi-media and information technology (TMT) sector as well as the continuing diversification of Altech's income base within that sector, through globalisation, and corporate activity.
It also plans the expansion of the Altech Data Centre strategy across selected areas in Africa and a general focus on expanding the strong presence that the company has in East Africa.
It will also continue with the transformation of Altech Technology Concepts up the value chain and into a Tier-1 ISP and the expansion of annuity revenue businesses.
There will be a strong focus on margins, costs, working capital and cash flow as well as participation in the South African and Australian digital migration programmes.
Revenue was flat, at R4.79bn from a previous R4.73bn rand, while operating profit declined to R361m from R479m before.
The company said the continued difficult general economic conditions and the global market stagnation impacted on certain of the market segments in which the Altech Group operates. It said it was cash positive at half-year end at R318m.
The group believes that the second half performance will be much improved on its first half-year as certain adverse factors which were specific to the first half-year will not recur.
Going forward, there will be a continued focus on capitalising on convergence within the technology, multi-media and information technology (TMT) sector as well as the continuing diversification of Altech's income base within that sector, through globalisation, and corporate activity.
It also plans the expansion of the Altech Data Centre strategy across selected areas in Africa and a general focus on expanding the strong presence that the company has in East Africa.
It will also continue with the transformation of Altech Technology Concepts up the value chain and into a Tier-1 ISP and the expansion of annuity revenue businesses.
There will be a strong focus on margins, costs, working capital and cash flow as well as participation in the South African and Australian digital migration programmes.
