In its trading statement for the six months ended 31 August 2023, Datatec reports good demand for its technology solutions and services across the world.
The group’s operations remain well-positioned to service customers in their respective markets as it actively manages supply chain challenges.
All divisions have delivered improved financial performance in H1 FY24 compared to H1 FY23. Westcon delivered another excellent performance and Logicalis International had a strong result. Logicalis Latin America had a much-improved performance compared to H1 FY23, but regional macro-economic pressures remain with currency weakness and hyperinflation in Argentina.
In terms of the JSE listings requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on next will differ by at least 20% from the previous corresponding reporting period.
Datatec now expects the following earnings per share ranges for H1 FY24:
* Earnings per share of between 6.1 to 6.5 US cents (H1 FY23: 5.0 US cents), being 1.1 to 1.5 US cents (22.0% to 30.0%) higher than H1 FY23.
* Headline earnings per share of between 6.1 to 6.5 US cents (H1 FY23: 4.7 US cents), being 1.4 to 1.8 US cents (29.8% to 38.3%) higher than H1 FY23.
* Underlying earnings per share of between 9.4 and 9.8 US cents (H1 FY23: 3.6 US cents), being 5.8 to 6.2 US cents (more than 100%) higher than H1 FY23.
The company expects to release its interim results for H1 FY24 on or about 23 October 2023.