Fin24

Datatec Heps rises 6%

2012-10-17 15:40

Johannesburg – Technology firm Datatec [JSE:DTC] on Wednesday reported a 6% rise in diluted headline earnings per share to 20.5 US cents for the six months ended August, from the 19.2c reported in the corresponding period last year.

“As we highlighted in our IMS statement in July‚ overall revenues and underlying earnings are continuing to improve but the rate of growth has slowed as the macroeconomic climate has become more uncertain‚” Datatec CEO Jens Montanana said.

The group’s revenue grew by 7% to $2.62bn from the previous year’s $2.44bn.

“Whilst organic revenue growth slowed in all regions‚ the group benefited from its strategy of expansion into higher growth markets and a strong first-half performance from Logicalis.

"Westcon had a more challenging six months compared to the recent past‚ but has still reported revenue growth across all regions‚” Datatec said.

The group declared a dividend of 70 SA cents or 8 US cents for the period under review.

Datatec still expects to grow its revenue for the 2013 financial year to between $5.5bn and $5.8bn.

“Based on current exchange rates and trading conditions our full-year forecast remains unchanged but has become more challenging than we anticipated in May‚” Montanana said.