Altron's spectacular fall from grace
The Venter-run family business last week announced a loss of R1,1bn for the year to February, drowning the previous year’s loss of R60m. CEO Robbie Venter is currently on a roadshow to calm investors and explain the strategy going forward. This strategy, in a nutshell, is to ditch “non-core” businesses that have sucked the life out of the company and reposition itself as a telecommunications, multimedia and technology group, which is where the money is.
Altron’s share price face-planted from about R29 in June 2014 to R6,15 last week - back where it was 20 years ago. In August last year, Old Mutual Investment Group announced that it had offloaded a sizeable chunk of its shareholding in Altron and this seems to have triggered the latest slide.
Continue reading the full article on TechCentral.
Source: TechCentral
Founded by Duncan McLeod, TechCentral is the leading quality news and information resource for people involved in South Africa’s fast-growing information and communications technology industry and those interested in the fast-changing world of information technology. It provides quality news, reviews and comment relevant to its quickly expanding audience. Follow TechCentral on Twitter at TechCentral, become a Facebook fan and subscribe to the daily newsletter.
Go to: http://www.techcentral.co.zaRelated
Ipelegeng (Ipi) Thibedi joins Ogilvy South Africa’s as group managing director 11 Mar 2025 Why South Africa’s top companies advertise on BusinessTech 26 Feb 2025 Altron announces new appointments to support accelerated growth plan 11 Dec 2024 Driving safety forward: Netstar’s 4-year commitment to transforming scholar transport 12 Nov 2024 Protecting the keys to the kingdom with privileged access management as a service 21 Oct 2024 Netstar appoints Morné Grundlingh as group CFO to bolster international growth ambitions 15 Oct 2024
