Datatec`s headline earnings per share (HEPS) for the six months to 31 August are expected to be at least 30% lower than those of the prior-year period as a result of rand strength.
The Datatec share was trading at 800c in early trade on the JSE this morning, down 60c or 7% from yesterday`s close.
The group put out a trading statement on the JSE`s SENS news service after the market closed last night, saying that HEPS would be substantially lower. In terms of JSE listings requirements, this means a variation of at least 30%.
Blaming the appreciation of the rand for the earnings decline, Datatec says its trading performance had in fact shown an improvement.
This is mainly due to improvements at its Logical operations.
At the last interim stage Datatec achieved HEPS of 12c a share. For the year to end-February it reported a headline loss of 68c a share. An attributable loss of R248 million was incurred on revenue amounting to R20.22 billion.
The results for the six months to 31 August 2003 are expected to be published on or about 4 November.
Related stories:
Datatec incurs its first operating loss
Datatec`s earnings drop by 91%
Share
