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CHRIS GILMOUR: Winds of change at Altron deliver sunny results
The makeover has changed the group from an incoherent electronics conglomerate into something that knits together with common purpose
Allied Electronics Corporation (Altron) is almost unrecognisable from two years ago. Gone is the byzantine control structure that was dominated by the Venter family, and the only member of the family on the board is Robbie Venter as nonexecutive director, with founder Bill Venter having retired earlier in 2018. The operating structure has also been streamlined significantly, the group has turned profitable, and dividends have been resumed for the first time since 2016. It has transformed from an operation based on infrastructure physical inputs into a player in the information and communications technology (ICT) sector. Strong profit growth is expected for the foreseeable future, making Altron a potentially attractive share in the software and computer services sector of the JSE. After the disposals of a long list of operating divisions, the Altron group makeover has changed it from an incoherent electronics conglomerate into something that knits together with common purpose. Most, ...