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Datatec`s earnings soar

By Iain Scott, ITWeb group consulting editor
Johannesburg, 25 Apr 2005

Datatec is set to report a significant turnaround in full-year headline earnings per share.

The group, which reports its figures in US dollars, says it its likely to report headline earnings of between 3c (US) and 4c a share for the year to end-February.

This compares with a headline loss of 6.59c a share for the 2003/04 financial year.

The results are expected to be published on 18 May.

The group says in a trading update that its overall trading performance improved during the second half the latest financial year, on both a sequential and comparative basis.

At the interim stage, Datatec achieved headline earnings of 0.1c a share, compared with a previous interim loss of 0.4c a share.

"Stronger revenues, with continued tight control of operating expenses, led to an expansion of operating profit," it says. "Considerable improvement in the services-related activities of the group, namely within the Logicals and Analysys Mason divisions, enhanced the overall results."

Attributable earnings per share are expected to be between 34c and 42c a share, compared with a previous loss of 29.75c a share.

The group says this is mainly because of exceptional profits on the sale of Logicalis Group`s Asia Pacific subsidiaries.

The Datatec share, which closed unchanged at 900c on the JSE on Friday, was up 1c at 901c in early trade.

Related stories:
Datatec back in the black
Datatec back to operating profit

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