While any meaningful sign of recovery in the IT sector is uncertain, the market is not going to see the kind of growth experienced in the 1990s once it does turn, says Datatec CEO Jens Montanana.
He writes in the group`s latest annual report that macroeconomic indicators are unclear on the timing of an upturn and Datatec management remains cautious about economic predictions.
Montanana said in May, when Datatec reported its first operating loss in its 17-year history, that the group had positioned itself to make a profit in a no-growth market.
"In the year ahead, management anticipates reasonably stable revenue in dollar terms and a return to rand-denominated profitability, if the exchange rate is relatively constant," he writes in the annual report.
"After the turnaround of Landis and completion of its integration into Westcon, it is expected to become a contributor during 2004."
The annual report shows that Montanana was paid less in the 2003 financial year than in the previous year. He received a total of $788 737, which was made up of a basic salary of $590 768, a bonus of $80 000 and benefits of $117 969.
In the previous year ending March 2002, he was paid a basic salary of $623 081, a bonus of $311 296, benefits amounting to $127 311, making a total of $1.06 million.
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