About
Subscribe

Datatec beats expectations

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 11 Mar 2011

The company, which is listed on the JSE and London Stock Exchange, said yesterday revenue will be about $4.3 billion and after-tax profit will be around $61 million.

Datatec previously expected full-year revenue to come in at between $4.1 billion and $4.4 billion, and profit after tax of about $58 million.

In January, the company released its interim management statement for the four months to December and said improvements in trading and profitability had continued.

As a result, the group's results for the second six months to February were expected to be better than a year ago, and show an improvement on the first half of the year.

In October, Datatec reported its first-half results and said revenue grew 19%, to $2.13 billion, while operating profit moved from $28.7 million to $40 million. Net profit leapt from $8.7 million to $17 million.

Datatec says its net cash position has also improved. It will release its results on 11 May.

Share