Altron - Further margin expansion in H125
Altron reported a 105% y-o-y increase in operating profit before capital items in H125, with margin expansion of 5.1pp to 9.8%. The Platforms businesses were particularly strong, with Netstar and FinTech achieving material revenue and profit growth. Altron Digital Business, still in the integration phase, saw some non-recurring costs and the shift of several project starts into H225, but has seen indications that performance should improve in FY26. Management raised its FY26 operating profit target, partly to reflect the inclusion of Altron Document Solutions (ADS) in continuing operations. We have upgraded our forecasts for continuing operations and the group, partly reflecting better performance in the Platforms business and partly factoring in reduced losses from discontinued operations.Allied Electronics is an investment holding company. Co. invests in the telecommunications, multi-media, information technology and power electronics industries through its subsidiaries, Allied Technologies Limited, Bytes Technology Group (Pty) Limited and Power Technologies (Pty) Limited. Co.'s products and services are comprised of Powertech Cables, Powertech Transformers, Powertech Batteries, Crabtree, Powertech System Integrators, Turnkey substation projects, Transport and Rail Solutions, Renewable Energy Solutions, and Switchgear.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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