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Datatec revises profit estimate

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Datatec has published a year-end trading update for the financial year ended 28 February 2011 in which it details an expected increase in profits and earnings compared to and interim management statement issued in January.

The group expects revenues of approximately $4,3-billion, profit after tax of approximately $61-million, underlying earnings per share of approximately 37 US cents and both earnings and headline earnings per share of approximately 32 US cents.
It expects to pay a dividend/capital distribution in line with its policy, which is to have cover of at least three times, relative to underlying earnings.
As anticipated, the group’s year end net debt/cash position has improved since the end of the first half of the financial year.
Preliminary results for the year ended 28 February 2011 should be available on 11 May 2011.