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Johannesburg - Allied Technologies (Altech) lifted full-year headline earnings per share by 23% helped by its cellular service provider unit and it expects more growth this year.
Altech said headline earnings per share which excludes non-trading, capital and certain extraordinary items - rose to 511c.
Group revenue rose 22% to R8.2bn and operating profit was up 17% at R664m.
Altech said its Altech Autopage Cellular performed well ahead of expectations, exceeding profitability and cash flow targets.
The unit added 115 000 subscribers, up 14%, in the year. It now has more than 917 000 post-paid and pre-paid connections.
Altech also said Netstar, which tracks stolen vehicles, kept its market share lead in the year, despite a slow-down in new car sales.
Its UEC unit, which develops, makes, services and deploys set-top box products and software, produced 1m decoders and sees good growth in India, where satellite television services have increased demand for pay-television products.
"Indications are that the Indian market may exceed the African market within one year," Altech said.
Overall, it expects growth in the coming year as exports grow, strengthens its entry into the South African broadband market and further globalises its business.
- Reuters