Altron's spectacular fall from graceAt some point, JSE-listed Altron's bombed out share price is going to look like a bargain. But it's hard to know when that will be. Altron CEO Robbie Venter The Venter-run family business last week announced a loss of R1,1bn for the year to February, drowning the previous year’s loss of R60m. CEO Robbie Venter is currently on a roadshow to calm investors and explain the strategy going forward. This strategy, in a nutshell, is to ditch “non-core” businesses that have sucked the life out of the company and reposition itself as a telecommunications, multimedia and technology group, which is where the money is. Altron’s share price face-planted from about R29 in June 2014 to R6,15 last week - back where it was 20 years ago. In August last year, Old Mutual Investment Group announced that it had offloaded a sizeable chunk of its shareholding in Altron and this seems to have triggered the latest slide. Continue reading the full article on TechCentral. |