Tough market conditions take their toll on cabling companies Allied Electronics Corp (Altron) and Reunert, the two giants that dominate the electronics and electrical sector, had a better time of 2009 than they did of 2008. Though trading conditions remained tough, both groups' market capitalisations climbed after the steep drops of 2008. Reunert's market capitalisation rallied to R11,4bn at end-December 2009, up from R9,98bn at the end of 2008. Altron's market cap improved from R7,64bn to R9,44bn in the same period. This marks a dramatic improvement over the period between end-March 2007 and end-December 2008, during which Altron's market cap dropped from R15,74bn to R7,64bn and Reunert's fell from R14bn to R9,98bn. Yet both groups' share prices are still trading way below their record highs of 2007. Reunert's share was trading at R55 at the time of writing, way down from its record closing high of R85,60 in February 2007. Altron's share is currently trading ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.