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Johannesburg - IT group Datatec (DTC) advised on Tuesday that for the financial year ended February 2009, the board now expects earnings per share to move up to approximately US34c per share and headline earnings per share to move up to approximately US36c per share. This is higher than the previous advisory released in March.
There are no cash implications for this technical change in earnings guidance, the group said in a final year end earnings update.
On March 12 2009 shareholders were advised that EPS and HEPS were expected to be between US25c and US29c. Shareholders were also advised that these estimates did not factor in any fair value movements on put/call options for minority shareholders in subsidiaries, required under IFRS, or any impairments of goodwill and intangibles.
The group said a reduction in the fair value of put option liabilities has resulted in unrealised additional profits of $16.8m for the period.
As a result the board now expects earnings per share to move up to approximately US34c per share and headline earnings per share to US31c and US35c per share.
The group expects to release its results on Thursday May 14 2009.
- I-Net Bridge