Share

Altron cable unit in doldrums

Johannesburg - Allied Electronics Corporation said on Friday that Powertech's Aberdare Cables has continued to experience difficult trading.

This was blamed on the depressed state of the building and construction sector and pricing pressures.

Altron's update followed its financial half-year results in October.

"It is evident from recent economic data that industries exposed to this key sector continue to face extremely challenging times with few signs of recovery being seen, particularly in the domestic residential market," Altron said.

It noted that the remainder of Powertech's operations had traded according to group expectations, with Powertech "well positioned to capitalise on future growth opportunities when the markets turn".

It said that Bytes' trading conditions and markets had not changed significantly from previous reporting.

"Consequently, Bytes is trading in line with our expectations," Altron said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.01
+1.1%
Rand - Pound
23.79
+0.7%
Rand - Euro
20.40
+0.8%
Rand - Aus dollar
12.40
+0.7%
Rand - Yen
0.12
+1.2%
Platinum
925.50
+1.5%
Palladium
989.50
-1.5%
Gold
2,331.85
+0.7%
Silver
27.41
+0.9%
Brent Crude
88.02
-0.5%
Top 40
68,437
-0.2%
All Share
74,329
-0.3%
Resource 10
62,119
+2.7%
Industrial 25
102,531
-1.5%
Financial 15
15,802
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders