Datatec has published its reviewed condensed consolidated results for the financial year ended 28 February 2014.
Revenue was up 8% to $5,69-billion (2013: $5,25-billion) while gross profit increased by 8% to $841,4-million (2013: $780,3-million).
Datatec recorded an EBITDA of $175,3-million (2013: $185,5-million). Underlying earnings per share of 35,7 US cents (2013: 43,1 US cents).
Capital distribution was maintained at 17 US cents per share for the full year (2013: 17 US cents).
Westcon came under a new leadership team and re-organisation was implemented. Management focused on improving operational efficiency.
Logicalis is in the process of transforming into a services-based business and is well positioned for industry evolution.
2015 financial year forecast includes:
* Revenues in excess of $6-billion; and
* Underlying earnings per share of more than 40 US cents.
“We continued to grow revenue and our gross margins have been stable. Logicalis had a notably strong year, reporting operating profits up 23%, whilst Westcon underperformed as a result of several factors,” says Jens Montanana, chief executive of Datatec.
“We remain confident in the sustainability of our long-term growth strategy and have maintained our capital distribution at the same level as the previous year. The secular trends in our industry remain favourable. In the current financial year, we anticipate another robust performance for Logicalis while Westcon will continue to consolidate and focus on improving operational leverage.”