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Datatec Limited (DTC)

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Tuesday 19 March, 2013

Datatec Limited

Pre-close year end trading statement

RNS Number : 2620A
Datatec Limited
19 March 2013
 



19 March 2013

 

Datatec Limited 

 

Pre-close year end trading statement

 

Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international Information and Communications Technology ("ICT") group, is today publishing a year-end trading statement for thefinancial year ended 28 February 2013.

 

The Group has marginally adjusted its forecasts, published in the Interim Management Statement ("IMS") on 16 January 2013, for the financial year ended 28 February 2013.

 

Datatec now expects: 

·      revenues in the range $5.2 - $5.3 billion - previous forecast to be approximately $5.4 billion;

·      profit after tax* in the range $83.0 - $88.0 million - previous forecast to be in the range $80.0 - $90.0 million;

·      underlying earnings per share** in the range 40.0 - 45.0 US cents - previous forecast to be in the range 40.0 - 47.9 US cents;

·      earnings per share* in the range 38.0 - 43.0 US cents  - previous forecast to be in the range 35.0 - 43.5 US cents; and 

·      headline earnings per share* in the range 38.0 - 43.0 US cents  - previous forecast to be in the range 35.0 - 43.1 US cents. 

 

The Group expects to maintain its distribution to shareholders, via a final capital reduction out of contributed tax capital in lieu of a dividend, at 9 US cents (2012: 9 US cents), making a distribution of approximately 17 US cents per share in total for the year ended 28 February 2013, up from 16 US cents in 2012. 

 

Since the IMS, Westcon has continued to report performance below expectations especially in the US and Europe.  In contrast Logicalis continues to perform strongly and slightly above plan.  The Group's gross margin expansion has continued throughout FY13 and overall Latin America has again proved to be its strongest market.

 

Separately, Datatec has reviewed Westcon's participation in India which will lead the Group to divest from its current venture.  Discussions with the local partners have commenced. The investment to date is not significant to the Group.

                                                                                       

The Group expects to release its full year results for the financial year ended 28 February 2013 on or about Wednesday 15 May 2013.

 

The financial information on which this statement is based has not been reviewed and reported on by Datatec's external auditors. 

 

*The forecasts for profit after tax, earnings per share and headline earnings per share do not take into account any fair value gains or losses on acquisition related financial instruments (including put option liabilities), which are required under IFRS.

 

**Underlying earnings per share excludes goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements.

 

 

Enquiries:

 

Datatec Limited  (www.datatec.co.za)


Jens Montanana, Chief Executive Officer

+44 (0) 1753 797118

Rob Evans - Chief Financial Officer

+44 (0) 20 7395 9012

Wilna de Villiers - Group Marketing Manager

+27 (0) 11 233 1013



Jefferies International Limited - Nominated Advisor and Broker

Nick Adams/Alex Collins

+44 (0) 20 7029 8000



finnCap  - Broker


Tom Jenkins/Henrik Persson

 

+  44 (0) 20 7220 0500

College Hill


Adrian Duffield/Rozi Morris (UK)

+  44 (0) 20 7457 2020

Frederic Cornet/Lexi Ball (SA)

 

+27 (0) 11 447 3030

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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