Local electronics and technology group Altron continues to confound the sceptics. It has weathered the extreme volatility of the markets it operates in and reported what it terms satisfactory financial results for the year ended 28 February 2003.

Revenue rose 15 percent to R11.4 billion, with operating income up a healthy 20 percent to R912 million. Attributable earnings grew 51 percent to R464 million, translating into a 54 percent increase in attributable earnings per share to 172.5 cents.

Chief executive Robbie Venter confirms Altron`s long-term liabilities decreased substantially as a result of the securitisation of R680 million of the Fintech office automation receivables. However, this was offset by external funding of R120 million, required for the acquisition of the UK IT company Plato by Bytes Technology Group (BTG).