Altron invests R342 million in growth initiatives, and plans to turnaround Netstar in Australia

ALTRON spent R342 million on growth initiatives in the six months to August 31 that included capital rental devices in Netstar and Altron FinTech, new ventures such as the Altron AI Factory and a patient app for Altron HealthTech's oncology solution.

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Altron's recently launched, and South Africa's first operational AI Factory, provides South African companies with enterprise-level AI infrastructure and services, while maintaining data sovereignty and regulatory compliance.

The platform is currently live with five launch customers, which include Dataviue, Lelapa AI, and MathU.

CEO of the JSE-listed ICT group Wener Kapp said they were pleased with the "strong financial performance" and returns in the Platforms segment, where investment was continuing in line with strategy, and the strong financial position and cash flow generation during the six months had allowed a 20% increase in the interim dividend to 48 cents.

Altron's share price fell 8.32% to R16.87 on Monday afternoon on the JSE, a price also lower than the R18.70 that it traded at a year ago.