Datatec, the international ICT group, has published a year-end trading statement for the financial year ended 28 February 2013.
The group has marginally adjusted its forecasts, published in the interim management statement (IMS) on 16 January 2013, for the financial year ended 28 February 2013.
Datatec now expects:
* Revenues in the range $5,2 – $5,3-billion – previous forecast to be approximately $5,4-billion;
* Profit after tax in the range $83 – $88-million – previous forecast to be in the range $80 – $90-million;
* Underlying earnings per share in the range 40 – 45 US cents – previous forecast to be in the range 40 – 47,9 US cents;
* Earnings per share in the range 38 – 43 US cents – previous forecast to be in the range 35 – 43,5 US cents; and
* Headline earnings per share in the range 38 – 43 US cents – previous forecast to be in the range 35 – 43,1 US cents.
The group expects to maintain its distribution to shareholders, via a final capital reduction out of contributed tax capital in lieu of a dividend, at 9 US cents (2012: 9 US cents), making a distribution of approximately 17 US cents per share in total for the year ended 28 February 2013, up from 16 US cents in 2012.
Since the IMS, Westcon has continued to report performance below expectations especially in the US and Europe. In contrast Logicalis continues to perform strongly and slightly above plan. The group’s gross margin expansion has continued throughout FY13 and overall Latin America has again proved to be its strongest market.
Separately, Datatec has reviewed Westcon’s participation in India which will lead the group to divest from its current venture. Discussions with the local partners have commenced. The investment to date is not significant to the group.
The group expects to release its full year results for the financial year ended 28 February 2013 on or about Wednesday 15 May 2013.
The financial information on which this statement is based has not been reviewed and reported on by Datatec’s external auditors.
Datatec now expects:
* Revenues in the range $5,2 – $5,3-billion – previous forecast to be approximately $5,4-billion;
* Profit after tax in the range $83 – $88-million – previous forecast to be in the range $80 – $90-million;
* Underlying earnings per share in the range 40 – 45 US cents – previous forecast to be in the range 40 – 47,9 US cents;
* Earnings per share in the range 38 – 43 US cents – previous forecast to be in the range 35 – 43,5 US cents; and
* Headline earnings per share in the range 38 – 43 US cents – previous forecast to be in the range 35 – 43,1 US cents.
The group expects to maintain its distribution to shareholders, via a final capital reduction out of contributed tax capital in lieu of a dividend, at 9 US cents (2012: 9 US cents), making a distribution of approximately 17 US cents per share in total for the year ended 28 February 2013, up from 16 US cents in 2012.
Since the IMS, Westcon has continued to report performance below expectations especially in the US and Europe. In contrast Logicalis continues to perform strongly and slightly above plan. The group’s gross margin expansion has continued throughout FY13 and overall Latin America has again proved to be its strongest market.
Separately, Datatec has reviewed Westcon’s participation in India which will lead the group to divest from its current venture. Discussions with the local partners have commenced. The investment to date is not significant to the group.
The group expects to release its full year results for the financial year ended 28 February 2013 on or about Wednesday 15 May 2013.
The financial information on which this statement is based has not been reviewed and reported on by Datatec’s external auditors.
