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Datatec bucks economic slowdown trends

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Once again, the IT sector seems to be riding out the economic turndown in style, with Datatec reporting strong first quarter results for the period March to May.

In a statement, the group says its good results are underpinned by the broad diversity of the group's revenue sources in terms of geography, technology and operations.
Despite continuing softness in the US and slower market conditions now impacting many parts of Europe, the board expects that the Group will deliver good revenue growth for the first half of the year and an improved financial performance compared to the same period last year.
Revenues are expected to exceed $2,2-billion for the six months to 31 August 2008, compared to $1,9-billion for the comparable period last year.
The group's broad international base, which includes strong contributions from the fast developing markets of South America, Africa and the Middle East as well as Asia-Pacific, is improving the balance of business and helping to mitigate and offset lower growth in the US and European markets.
The performance of the Westcon Group in the first quarter was better than the comparative quarter of the prior financial year, with robust performance from South America and Asia Pacific.
The strong performance from Logicalis in the second half of last year has continued into this year with Logicalis recording its best first quarter performance to date, which has resulted in continued operating profit margin expansion.