Datatec has published a trading statement for the financial year ended 28 February 2021.
Despite the challenging economic environment resulting from the Covid-19 pandemic, Datatec achieved a strong operational performance in FY21, benefiting from the strength in the technology sector.
All of the Group’s divisions delivered strong results and operating cash flows and the group ended the year with enhanced liquidity and significantly reduced net debt.
During the year, the Group incurred one-time Covid-19 and fundamental restructuring costs of $22-million, which are excluded from underlying earnings.
The FY20 results included a tax credit in Logicalis Brazil of approximately $14-million relating to certain overpaid indirect taxes and interest income of approximately $7-million in relation to those overpaid taxes.
Underlying earnings per share is expected to be between 13.4 and 13.8 US cents (FY20: 9.9 US cents), being 35% to 39% higher than FY20.
Meanwhile, headline earnings per share is expected to be between 1.6 and 2.0 US cents (FY20: 5.9 US cents) being 66% to 73% lower than FY20.
Earnings per share is expected to be between 1.2 and 1.6 US cents (FY20: 6.8 US cents) being 77% to 82% lower than FY20.
The company intends to release its FY21 results on SENS on or about 25 May 2021.