Datatec’s interim results indicate that overall group revenues and EBITDA for the period 1 March to 30 June 2013 will be similar to the corresponding period last year, but that underlying earnings and headline earnings per share are slightly lower.
However, it adds, based on current exchange rates and market conditions, the group’s forecasts for the financial year remain unchanged.
“We remain cautious about the prospects for growth in the geographies in which we operate,” says Datatec CEO Jens Montanana. “However, our global footprint and the diversity of our business streams continue to provide resilience in these mixed trading conditions.
“At Westcon the strongest performance has been in developing markets, Europe remains persistently weak and the recent SAP implementation in North America has impacted volumes in the short-term. We are focused on improving Westcon’s operating margin.”
“We are very pleased with the continued robust performance at Logicalis,” he adds.
Trading conditions remain largely the same as in the second half of the financial year ended 28 February 2013 (“FY13”). Westcon continues to experience a more challenging trading environment whilst Logicalis has continued to perform robustly. Gross margins have remained stable.
On 15 May 2013 the Group published forecasts for the financial year ending 28 February 2014. These are for revenues of between $5.6-billion and $5.9-billion, profit after tax* of approximately $102-million, underlying earnings per share of approximately 50 US cents and earnings and headline earnings per share of approximately 46 US cents.