Datatec, the international information and communications technology (ICT) group, today announces its year-end earnings update for the year ended 29 February 2008.
This update should be read in conjunction with the group's interim management statement (IMS*) announced on 15 January 2008.
The group's financial performance has improved for the fifth successive annual reporting period, with a strong performance in the second half of the last financial year.
For the year ended 29 February 2008, headline earnings per share and earnings per share are each expected to be between 42 and 46 US cents (2007: 40.8 US Cents and 40.0 US cents respectively).
Underlying earnings per share are expected to be between 44 and 48 US cents (2007: 39.2 US cents). Underlying earnings per share excludes goodwill impairment, amortisation of intangible fixed assets, profit or loss on sale of assets and businesses and unrealised foreign exchange movements on inter-company loans.
The group expects to announce its preliminary results on Wednesday, 14 May 2008.
The financial information on which this year-end earnings update is based has not been reviewed and reported on by Datatec's external auditors.
* An IMS is a statement that the UK Financial Services Authority now requires UK companies fully listed on the London Stock Exchange to issue during the first six-month period of the financial year and another statement during the second six-month period of the financial year. The group plans to publish its IMS statements in January and July each year.
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Datatec is an international ICT group focused on the supply of advanced ICT and the delivery of professional services into the higher growth segments of the global market. The group's main lines of business comprise the global distribution of advanced networking and communications convergence products (Westcon), IT infrastructure solutions and network integration (Logicalis) and strategic telecommunications consulting (Analysys Mason Group). Datatec is registered in South Africa and its shares are listed in Johannesburg and London. The group has over 3 000 employees around the world.
In the year to 28 February 2007, the group reported an increase in revenue of 17% to $3,168 million (2006: $2,715 million), operating profit increased 45% to $100 million (2006: $69 million), and headline earnings per share grew to 40.80 cents (2006: 26.9 cents).
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