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Allied Electronics Corporation Limited (Altron) today announced its annual results for the year ended 28 February 2014. Revenue increased by 12% to a record high R27.8 billion, normalised earnings before interest, tax, depreciation and amortisation (EBITDA) increased 20% to R1.9 billion and normalised headline earnings per share (HEPS) increased by 49% to 206 cents.It has been a time of change for the Altron group. Significant projects were initiated during the year and we are very pleased with how they are unfolding and the benefits seen so far, said Robert Venter, Chief Executive of Altron.Among the

Powertech Transformers, a subsidiary of Powertech and the JSE listed Altron Group, announced a collaborative research and development project with the Department of Mechanical Engineering at the University of Pretoria, through funding received from the Department of Science and Technologys (DST) Technology Localisation Programme. The announcement was made at an event hosted by the University of Pretoria on 21 November 2012.Beeuwen Gerryts, Chief Director: Technology Localisation and Advanced Manufacturing stated that the DSTs goal for their Technology Localisation Programme is to help increase the competitiveness

JSE listed Allied Technologies Limited (Altech) has donated R527, 000 to the Villa of Hope childrens home in Nancefield, Eldorado Park in support of an M-Net Cares initiative. The donation includes funds for refurbishment and a tertiary education bursary for one of the children at the home. The Villa of Hope is a shelter for children between the ages of one and 18 years who require alternative or foster care due to abuse, neglect or abandonment and to children that have been affected or infected by HIV and AIDS or other ill circumstances. Many of these children are placed under the care of the home by

JSE listed Allied Technologies Limited (Altech) today announced the acquisition of 100% of the equity in Eyenza Mobile Money (Pty) Ltd (Eyenza). The acquisition follows the completion of a satisfactory due diligence of Eyenza by Altech and approval by the board of Altech. Eyenza Mobile Money is a wallet based system whereby a deposit is made into a central pool account after the user has registered and a wallet is created and linked to the users MSISDN number. The user can then transact to the value of the deposit (funds in their wallet). Commenting on the acquisition, Altech CEO Craig Venter had the