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Datatec grows revenues despite turbulent economy

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Datatec Limited, the JSE (Johannesburg Stock Exchange) listed international Information and Communications Technology (ICT) group today published its unaudited interim results for the six months ended 31 August 2011.

Jens Montanana, Datatec CEO

”These are very good results given the current environment. Despite the difficult economic conditions around the world, we have been able to grow revenues and improve margins in all divisions,” says Jens Montanana, Datatec Chief Executive Officer.

“In this economic climate many customers and suppliers are increasingly seeking to do business with large well capitalised multi-national companies.  This is directly benefiting the Group as our businesses are gaining market share in many of the markets and geographies in which we operate,” says Montanana.

“Gross margins and profits are up significantly as we continue to benefit from operating leverage and an improving business mix. Based on current trading conditions and exchange rates, our forecast for the full year remains unchanged, says Montanana.

“We are pleased to be paying our first interim capital distribution, which will result in a total of $125 million (approximately R1 billion) having been distributed to shareholders since 2006, reflecting the stability of the Group’s performance.”

Financial Highlights

Group revenue up 14% to $2,44 billion (H1 FY11: $2,13 billion)

Overall gross margin expanded to 14,1% (H1 FY11: 13,2%)

EBITDA up 46% to $85,4 million (H1 FY11: $58,5 million)

Underlying* earnings per share up 38% to 21,8 US cents  (H1 FY11: 15,8 US cents)

First interim capital distribution per share of 7 US cents

Total capital distributions since 2006 of $125 million (approximately R1 billion)

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

Staff Writer

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