Datatec's trading and profitability are improving in all of its divisions as the US continues to recover and Europe is stable, says the JSE- and London-listed firm.
The company this morning released its interim management statement for the four months between March and June. Datatec told shareholders that revenue and operating profit were better than a year ago.
“This is driven in particular by the continuing recovery in the US, stable conditions in Europe and resilient performance in Asia. Brazil remains the most promising of the major emerging economies in which the group operates,” it says.
Datatec should report its interim results for the six months to August on 13 October.
Overall gross margins have remained stable, and the group is continuing to tightly control operating costs as it keeps an eye on any interruption in the overall global economic recovery.
The company is sticking with its forecast of revenue between $4.1 billion and $4.4 billion for the year to February.
“We are delighted to report that the improvement in trading and profitability reported at our recent full year results has continued in all of the group's divisions,” says CEO Jens Montanana. “We remain cautiously optimistic for the year.”
Datatec's market update pleased investors, as its shares moved 3.25% higher to trade at R33.71 this morning.
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