Datatec expects its earnings for the six months ended 31 August to be more than 20$ higher than for the same period last year.
The group is currently finalising its results for period, which it will publish on 12 October, and expects underlying earnings per share, earnings per share and headline earnings per share to be more than 20% higher than the previous corresponding period.
Group revenues for the period are expected to be approximately $2,4-billion, compared to approximately $2,1-billion a year ago, with overall margin expansion.
Underlying earnings per share are expected to be between 21 and 22 US cents per share, compared to 15,8 US cents per share for the comparative period, an increase of between 33% and 39%.
Earnings per share and headline earnings per share are expected to be between 19 and 20 US cents per share, compared to 8,8 US cents last year, an increase of between 116% and 127%.
The board has resolved to amend the group’s dividend or capital distribution payment policy from making a single annual payment to making both interim and final distributions with immediate effect. The dividend cover policy of at least three times relative to underlying earnings per share will apply to both interim and final distributions.