ON THE SPOT
New Altron chief makes strides in turnaround plan
Former MTN SA CEO Mteto Nyati has ridden a wave of fresh investor optimism in Altron, which he joined in April and which this week posted a 16% rise in interim headline earnings. The company has set out to deliver consistent double-digit profit growth as it repositions itself to go large in information and communications technology (ICT). Business Day asked Nyati where Altron was in its turnaround plan. We’d like to make sure we are consistently delivering double-digit ebitda (earnings before interest, tax, depreciation and amortisation) growth at least for the next five years. We do not want to be disrupted by the noncore assets, so we’d like to make sure that the disposal of those assets is behind us as we enter the next financial year. We’ve also identified operations which should be leading us in terms of growth: one of them being Bytes UK. Altech Radio Holdings [is] another operation where we see huge potential; we see opportunity in broadband, in the internet of things and sma...
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