Datatec’s underlying, headline earnings expected to swing back into the black
The underlying earnings and headline earnings of information and communications technology firm Datatec are expected to swing into positive territory for the financial year ended February 28.
In a trading statement issued to shareholders on Tuesday, the company reported anticipated underlying earnings a share of 6.6c – 12.2c higher than the 5.6c underlying loss a share posted for the 2018 financial year and 23.8c higher than the 17.2c underlying loss a share from continuing operations reported for the 2018 financial year.
Headline earnings a share for the year under review are expected to increase to 0.7c, a 19.8c rise on the 19.1c headline loss a share and 30.6c higher than the 29.9c headline loss a share from continuing operations reported in the prior financial year.
“The year-on-year increase in underlying earnings a share and headline earnings a share is primarily as a result of the very good progress made in reshaping Westcon International, combined with continuing improved performance in Logicalis and Analysys Mason,” the company said.
The company expects to post earnings a share of 5.5c, which is 15c, and 73%, lower than the 20.5c in 2018, as a result of the profit generated on the sale of the disposal group – the sale of Westcon Americas to Synnex and the sale of Logicalis SMC – last year.
Earnings a share from continuing operations will be 0.6c in the year under review, a 53.9c surge on the 53.3c loss a share from continuing operations in 2018.
Datatec will publish its financial results on May 16.
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