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Notes             R millions  
                 
Basis of preparation                
The abridged consolidated financial statements have been prepared in accordance with the recognition and       
measurement criteria of International Financial Reporting Standards (IFRS) and its interpretations adopted by       
the International Accounting Standards Board (IASB) in issue and effective at 28 February 2009 and the presentation and   
disclosure requirements of IAS 34, Interim Financial Reporting and in compliance with the Listings        
Requirements of the JSE Limited.              
The accounting policies followed are consistent with those used in the prior year.          
                 
Auditor's report                 
KPMG Inc's unmodified auditor's report included in the consolidated annual financial statements and       
on the abridged consolidated annual financial statements contained in this abridged report         
are available for inspection at the company's registered office.            
                 
          2009   2008  
          (Audited)   (Audited)  
                 
Headline earnings per share (cents)    

(27%)

              275

 

              375

 
Diluted headline earnings per share (cents)    

(21%)

              257

 

              327

 
Adjusted headline earnings per share (cents)  

(24%)

              295

 

              387

 
Adjusted diluted headline earnings per share (cents)  

(18%)

              277

 

              339

 
         

 

 

 

  
         

 

 

 

  
1.  Capital items          

 

 

 

  
Net gain on disposal of property, plant and equipment    

                23

 

                  2

 
Impairment of property, plant and equipment      

  (12)

 

                  -

 
Impairment of goodwill        

(90)

 

 (86)

  
Goodwill adjustment on reversal of at acquisition tax losses    

    -

 

    2

 
Net gain/(loss) on disposal of businesses and investments    

                58

 

(1)

  
Foreign currency translation reserve released on disposal    

                  -

 

  (7)

  
         

(21)

 

 (90)

  
            

 

 

 

  
2.  Reconciliation between earnings and        

 

 

 

  
headline earnings         

 

 

 

  
Attributable to Altron equity holders      

              835

 

           1,019

 
Capital items   -  gross        

                21

 

                90

 
Tax effect of capital items      

                  8

 

                  -

 
Deferred tax assets reversed on at acquisition tax losses    

                  -

 

  2

 
Minority interest in capital items      

   (3)

 

(39)

  
Headline earnings        

              861

 

           1,072

 
         

 

 

 

  
         

 

 

 

  
3.   Reconciliation between attributable earnings and      

 

 

 

  
diluted earnings         

 

 

 

  
Attributable to Altron equity holders      

              835

 

           1,019

 
Dilutive earnings attributable to BBBEE minorities in subsidiaries    

 (44)

 

 (118)

  
Dilutive earnings attributable to dilutive options at subsidiary level    

 (17)

 

 (14)

  
Minority interest in adjustments      

         8

 

    7

 
Diluted earnings        

              782

 

              894

 
         

 

 

 

  
4.   Reconciliation between headline earnings and      

 

 

 

  
diluted headline earnings       

 

 

 

  
Headline earnings        

              861

 

           1,072

 
Dilutive earnings attributable to BBBEE minorities in subsidiaries    

 (41)

 

 (118)

  
Minority interest in adjustments      

       8

 

 8

 
Dilutive earnings attributable to dilutive options at subsidiary level    

  (17)

 

 (17)

  
Diluted headline earnings      

              811

 

              945

 
         

 

 

 

  
5.   Reconciliation between headline earnings and              
adjusted headline earnings               
Adjusted headline earnings have been presented to demonstrate the             
impact of some once off events and accounting charges on the headline             
earnings of the group. Headline earnings are reconciled to adjusted             
headline earnings as follows:              
                 
Headline earnings                       861              1,072  
Amortisation of intangibles arising on business combinations                   104                   40  
IFRS 2 charge on BBBEE transactions                         -                     3  
Costs associated with proposed purchase of minorities in subsidiaries                       -                   13  
Tax effect of adjustments                     (29)                 (14)  
Minority interest in adjustments                     (12)                   (8)  
                        924              1,106  
6.   Reconciliation between diluted headline earnings and              
adjusted diluted headline earnings               
                 
Diluted headline earnings                     811                 945  
Amortisation of intangibles arising on business combinations                   104                   40  
IFRS 2 charge on BBBEE transactions                         -                     3  
Costs associated with proposed purchase of minorities in subsidiaries                       -                   13  
Tax effect of adjustments                     (29)                 (14)  
Minority interest in adjustments                     (12)                   (8)  
                        874                 979  
                 
Fully diluted earnings, diluted headline earnings and adjusted diluted headline earnings have been       
calculated in accordance with IAS 33 - Earnings per share on the basis that:            
 - Kagiso Strategic Investments (Pty) Limited exercised its full option on 22% of the shares in Bytes Technology      
Group South Africa (Pty) Limited adjusted for the dilutive effect of the option price at the Bytes Technology      
Group SA level for the four months prior to the exercise of the said option effective 1 July 2008.        
 - The recognition of the deferred sale of a 30% interest in Aberdare Cables to the Izingwe Consortium based      
   on the assumption that the outstanding purchase price will be settled in cash for R106 million (comprising the empowerment funding 
   obligation net of excess cash deposits of R6 million), adjusted for the dilutive effect of the option price at the Aberdare level and after 
   taking into account the 10% investment in the Izingwe Consortium by Power Technologies (Pty) Limited.      
 - The recognition of the deferred sale of a 30% interest to Platina Venture Holdings (Pty) Limited in Alcom Matomo    
    based on the assumption that the internally financed purchase price will be settled in cash of R13 million,      
    adjusted for the dilutive effect of the option at Alcom Matomo level.            
 - The earnings effect of dilutive options at Allied Technologies Limited level.            
                 
7. Acquisitions of subsidiaries               
Bytes Group                
During the period the Bytes group acquired a number of operations, namely Planflow - 1 March 2008, Intelleca - 1 April 2008   
and NOR Paper - 1 July 2008 for an aggregate consideration of R301 million, of which R49 million is deferred.       
In the year to 28 February 2009 these acquisitions contributed R329 million to revenue and R15 million to the       
consolidated profit after tax. If the acquisitions had occurred on 1 March 2008, group revenue and net profit after tax   
before allocations would have increased by a further R117 million and R16 million respectively.        
        Recognised Fair value   Carrying  
        values adjustments   amount  
Non-current assets                        13                 85                  98  
Current assets                      149                    -                149  
Non-current liabilities                        (1)                (26)                (27)  
Current liabilities                       (57)                    -                (57)  
Net identifiable assets and liabilities                    104                 59                163  
Goodwill arising on acquisition                        138  
Total consideration                          301  
Less cash and cash equivalents in subsidiaries acquired                        (5)  
Less deferred purchase consideration                        (49)  
Cash outflow from the group on acquisitions                        247  
                 
                 
Powertech Group                
On 1 April 2008 the Powertech group acquired the remaining 50% of Powertech Transformers (Pty) Limited that it had not   
previously owned for a consideration of R320 million.             
In the year to 28 February 2009 the acquisition of the remaining 50% contributed R814 million to revenue and R44 million to the   
consolidated profit after tax. If the acquisition had occurred on 1 March 2008, group revenue and net profit after tax   
before allocations would have increased by a further R54 million and R4 million respectively.        
               
        Recognised Fair value   Carrying  
        values adjustments   amount  
Non-current assets                      110                166                276  
Current assets                      891                 15                906  
Non-current liabilities                        (2)                (51)                (53)  
Current liabilities                     (562)                    -              (562)  
Net identifiable assets and liabilities                    437                130                567  
Attributable to minorities                       (42)                (23)                (65)  
Net attributable assets and liabilities                    395                107                502  
Goodwill arising on acquisition                          69  
Total consideration                          571  
Less fair value of existing joint venture interest applied to business combination                    (251)  
Less cash and cash equivalents in subsidiaries acquired                      (71)  
Cash outflow from the group on acquisition                        249  
                 
                 
Altech Group                
On 1 March 2008, the Altech group acquired from Sameer ICT Limited (Sameer) 51% of the issued share capital  of Kenya Data   
Networks Limited (KDN), Swift Global(Kenya) Limited (Swift) and Infocom Limited (Infocom).The purchase price of US$75 million   
was allocated as follows:                
 - US$68 million for the shares in KDN.              
 - US$5 million for the shares in Swift.              
 - US$2 million for the shares in Infocom.              
Of the total purchase price of US$75 million referred to above, an amount of US$10 million has been held in escrow,  
to be released to the vendors of the shares concerned against the achievement of an aggregated combined profit after taxation of  
at least US$11.7 million for the 12 months ended 28 February 2009. The warranted profits were achieved.      
                 
                 
In addition the Altech Group and Sameer injected new capital of US$20 million into the three companies acquired, of which 51%  
was provided by the Altech Group and the remaining 49% was provided by Sameer.Therefore, the Altech Group's total  
investment was US$85.2 million, comprising the purchase price of US$75 million and the cash injection of US$10.2 million.  
                 
The goodwill arising is attributable to the market dominance of the businesses in their regions and the human capital acquired.  
                 
On 1 March 2008 and 31 March 2008 the group acquired 100% of the Altech Netstar franchises in Witbank and Bloemfontein respectively. 
                 
        Recognised Fair value   Carrying  
        values adjustments   amount  
Non-current assets                      317                159                476  
Current assets (including capital subscription proceeds)                  268                    -                268  
Non-current liabilities                     (190)                (42)              (232)  
Current liabilities                     (132)                    -              (132)  
Net identifiable assets and liabilities                    263                117                380  
Attributable to minorities                     (129)                (49)              (177)  
Net attributable assets and liabilities                    134                 68                203  
Goodwill arising on acquisition                        499  
Total consideration                          702  
Less deferred purchase consideration                        (82)  
Consideration paid in cash                        620  
Less amount paid for subscription shares and received by subsidiary companies                     (82)  
Less cash and cash equivalents in subsidiaries acquired                        (3)  
Cash outflow from the group on acquisitions                        535  
                 
In the year to 28 February 2009 these acquisitions contributed R449 million to revenue and R101 million to the       
consolidated profit after tax. If the Bloemfontein acquisition had occurred on 1 March 2008, group revenue and net profit   
after tax before allocations would have increased by a further R1 million and R0.2 million respectively. These amounts have been   
calculated using the group’s accounting policies and by adjusting the results of the subsidiaries to reflect amortisation on   
the fair value adjustments to intangible assets from 1 March 2008, together with consequential tax effects.      
                 
8. Post balance sheet acquisitions              
Acquisition of 100% interest in Fleetcall (Pty) Limited (Fleetcall)            
Altech has signed agreements to acquire 100% of the issued share capital of Fleetcall on 1 March 2009.       
The maximum purchase price is R75 million which is payable as follows in cash:          
 - First tranche: R40 million;                
 - Second tranche: R35 million payable on achievement of warranted profits.            
                 
Fleetcall is the only trunked two-way radio operator in South Africa.            
                 
Acquisition of 100% interest in Lateral Technology Concepts (Pty) Limited (Technology Concepts)      
Altech has signed agreements to acquire 100% of the issued share capital of Technology Concepts on 1 April 2009.   
The maximum purchase price is R45 million which is payable in cash as follows:          
- Initial payment of R7.5 million                
- The remaining maximum amount of R37.5 million to be paid in terms of an earn-out mechanism over two years based on   
after tax profit targets for the years ending February 2010 and February 2011, being achieved.         
                 
Technology Concepts is an established internet technology services business and corporate internet service provider.   
This acquisition enhances Altech Autopage Cellular's ability to provide data services to its voice cellular subscribers,   
recognising the developing convergence of voice and data in the telecoms arena and the increasing demand for bundled   
services.                
                 
The purchase price allocations for each of these acquisitions will be performed during the 2010 financial       
year, which will identify any recognisable intangible assets and determine the quantum of any goodwill.      
                 
The acquirees' balance sheets for both acquisitions at the date of the acquisitions are as follows: