Organic and acquisitive growth is expected to boost interim earnings, AltX-listed telecommunications group DataPro said yesterday.
In a trading update to shareholders, the company said its results for the six months ended 28 February should see earnings per share between 30% to 50% higher year-on-year, off 1.52c. Headline earnings per share are expected to increase by 70% to 90%, off 1.16c comparatively.
The company's improved performance is primarily due to the increase in annuity income from both organic and acquisitive growth, said DataPro.
In the period under review, the company acquired the offshore interests of Definity Telecommunications. This followed an earlier R70 million acquisition of the local vendor.
The group also completed its R380 million acquisition of least-cost routing provider Orion Telecom two weeks before the end of its half-year. DataPro sold a 20% stake in the company for R120 million to black economic empowerment consortium Lereko Metier Capital Growth Fund, to finance part of the Orion acquisition.
In terms of the JSE's listing requirements, companies are required to publish a trading statement as soon as it is satisfied the results for its next financial period will differ by at least 20% from those of the previous corresponding period.
DataPro is expected to release its half-year results on or around 19 April. Its shares opened flat this morning at R1.63.
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