IT infrastructure, solutions and services provider Datacentrix has reported a 7% drop in revenue to R411 million and a 37% drop in operational profits (earnings before interest, taxes, depreciation and amortisation) to R28 million.
In announcing its interim results for the year ending 31 August today, Datacentrix says its headline earnings per share fell 42% to 8.6c, while basic earnings per share decreased by 50% to 6.3c. Operating cash flows stand at R32.9 million, with R168.9 million cash on hand with no interest-bearing debt.
Datacentrix chairman Gary Morolo says the poor financial performance is "disappointing".
He ascribes it to "short-term" problems like lack of sales growth, increased costs due to investment in technical, sales and managerial resources as part of Datacentrix`s organic growth strategy, and "challenges" within the Datacentrix Solutions division, specifically the ERP business unit.
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