Dimension Data's financial outlook is solid, despite tough prevailing economic conditions, says the IT services house.
In an interim management statement issued yesterday, the company says: "Dimension Data continued to experience good demand for its IT services and solutions" during the period April 2008 to 18 August 2008.
The only material event in this time was the proposal to acquire the outstanding 44.9% of Datacraft Asia shares the group does not already own.
Funding for the total purchase consideration of approximately $276 million will be provided through a combination of $156 million of internal cash resources and $120 million from the placing, on 22 July 2008, of 136 121 909 new ordinary Dimension Data shares, at 44.25 pence per share.
According to the group's statement, its gross margins were stable during the period concerned and costs were contained.
"As a result, the group remains confident it will deliver a strong financial performance in line with management expectations for the full financial year."
DiData is scheduled to release its results for the 12 months to 30 September 2008 on Wednesday, 12 November 2008.
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