Datatec to deliver lower year-end earnings
London- and Johannesburg-listed Datatec expected to post a decline in earnings for the year to February as its Westcon North America’s lagging performance remained unchanged.
In a trading update to shareholders, CEO Jens Montanana said on Monday that the information and communications technology group’s earnings per share (EPS) and headline earnings per share (HEPS) would fall from the $0.40 reported in the prior financial year to between $0.28 and $0.31c and $0.30 and $0.33, respectively, in the year under review.
The company’s underlying EPS was estimated to reach between $0.34 and $0.37 in the 12 months to February, compared with the $0.43 reported last year.
Datatec’s EPS, as well as profit after tax, which was expected to fall from $85-million the year before to between $64-million and $69-million in the year to February, had been weighed down by a $20-million provision relating to the recoverability of certain assets in Westcon North America.
However, the group said it had recovered more than half of these legacy vendor claim assets, with the balance written off.
Underlying EPS, EPS and HEPS were all below the company’s forecast, in October, of $0.43, $0.38 and $0.40 respectively.
Group revenue for the financial year to February was expected to be between $5.6-billion and $5.8-billion – a marginal rise from the $5.25-billion recorded in the prior financial year.
Montanana said distribution to shareholders would be maintained through a final capital reduction out of contributed tax capital in lieu of a $0.09 dividend, resulting in a distribution of about $0.17 a share for the 12 months to February.
Datatec would release its year-end financial report on May 14.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
