Solid financial results for SA tech giant Altech

Altech_logo.gifSouth African technology Information and Communication Technology (ICT) company Altech has reported positive results for the financial year ended 28 February 2009.

The company showed steady growth in operating profit, revenue and headline earnings per share despite negative prevailing economic conditions. Specific highlights of the financial reports include double-digit growth in operating profit (32%) and revenue (11%).

The company attributed its continued successes to the continued globalization of its business specifically expanding into the broader African market. Subsidiary companies contributing to the success of the group include cellular division Altech Autopage, satellite tracking company Altech Netstar and various other companies providing broadband services in other African countries.

Altech’s revenue for the reporting period totlled ZAR9,164 billion, and the company declared a dividend of ZAR3,23 per share.