Datatec reports ‘modest’ full-year growth
JSE-listed information and communications technology group Datatec achieved “modest top-line growth” in the financial year ended February 28, despite its Westcon subsidiary having faced a challenging trading environment in the second half of the year.
The group achieved a 4% increase in revenue to $5.25-billion for year, compared with $5.03-billion the year before, while its earnings before interest, tax, depreciation and amortisation decreased by 2.47% to $185.5-million, compared with $190.2-million the year before.
“Last year presented contrasting trading periods and differing divisional achievement. In the first half we performed well in most operations around the world and met our financial expectations.
“However, in the second half of the year, Westcon experienced a slowdown in revenues, particularly in Europe and North America. Logicalis, by contrast, continued to perform strongly throughout the year, especially in the UK and the US,” CEO Jens Montanana reported in a statement to shareholders on Wednesday.
Westcon contributed 73% of the group’s overall revenues for the year.
The division earned revenues of $3.8-billion for the year, compared with $3.7-billion the year before.
The group’s Logicalis division achieved a 9% increase in revenue to $1.35-billion for the year, compared with $1.23-billion the year before.
Datatec expected Westcon to return to higher revenue growth in the 2014 financial year, while Logicalis was said to be on track to achieve its fifth consecutive year of strong revenue and profit growth.
Overall, the group expected to increase its revenue for the new financial year to between $5.6-billion and $5.9-billion.
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