Interim Results – FY24

Altron increases its dividend after strong growth in profitability from continuing operations.

Despite increasingly challenging trading conditions, the Altron Group reported improved revenue and profitability from continuing operations for the six months ended 31 August 2023. On the back of this improved performance and strong cash flow, Altron has increased its dividend payout ratio from a minimum of 40% to a minimum of 50% of headline earnings from continuing operations.

Commenting on the results, Altron Group Chief Executive Werner Kapp said "We are executing our strategy to become the leading platform and IT services business in our chosen markets. We are in the early phases of our journey. However, the successful profit improvement strategies in Altron Systems Integration and Netstar, together with focused execution on our growth levers, have delivered pleasing results. Operating profit in our core operations increased 25%. This positive momentum, which is yielding improved cash flow generation, combined with our strong balance sheet, allowed us to positively adjust our dividend payout to improve distributions to shareholders."

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