JSE-listed telecommunications group Allied Technologies' (Altech's) wide portfolio of services has been the key to sustaining growth in a tough environment, an analyst says. "Altech is trying to provide converged communication services and has a very focused approach, even though it is involved in a number of sectors in the market," said Frost & Sullivan ICT industry analyst Lindsey Mc Donald. The comments come as Altech reported an 11% revenue increase to R9.1-bn from R8.2-bn for the year to end-February on Thursday. Operating profit rose 32% to R874-mn, and net asset value per share increased by 15% to 2 328c. A dividend of 323c per share was declared, representing a 12% increase.
Altech, a member of the Allied Electronics (Altron) Group, is involved in the telecommunications, multimedia and information technology industries and owns brands like vehicle-tracker Netstar and service provider Autopage Cellular. Altech's purchase of internet service provider Lateral Technology Concepts is an example of its increasing portfolio of services, Mc Donald said. Technology Concepts offers a full range of internet service provider (ISP) products, services and solutions which are developed and managed in-house. With this acquisition, Altech is able to offer services in the broadband internet sector.
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