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Johannesburg - South African IT firm Datatec expects to report a drop in interim headline earnings per share, but sees its gross margins remaining stable.
The company, which is listed in London and Johannesburg and is a distributor for companies such as Cisco, said on Wednesday it expected headline earnings per share for the six months to end August to be between US4-5c compared to US17.6c in the previous period.
The company said it had generated $1.8bn in revenues in the six month period.
But Datatec added that an increase in the fair value of put option liabilities had resulted in an unrealised additional expense of $6.4m versus a gain of $16.8m in the previous period.
The company said excluding this expense, its EPS and headline EPS would have been between US8-9c per share.
The company will publish its interim results on October 14.
EPS and headline EPS are South Africa's main profit gauge.
- Reuters