Datatec has issued a trading statement for the financial year ended 29 February 2024.

Westcon International continued to deliver an excellent financial performance during the second half of FY24. Logicalis International also had a strong second half which included greater net revenue reported software sales. Logicalis Latin America faced difficult market conditions, especially in Argentina and Brazil, which adversely affected its performance in the second half of FY24.

Further to the trading update on 27 March 2024, Group revenue for FY24 is expected to be approximately $5,46-billion, representing a 6% increase on the $5,14-billion generated in FY23.

The preparation of the FY24 results has reached the stage where the group has such a reasonable degree of certainty and advises shareholders as follows:

* Underlying earnings per share is expected to be between 19.0 and 21.0 US cents (FY23: 7.9 US cents), being 11.1 to 13.1 US cents (more than 100%) higher than FY23;

* Headline earnings per share is expected to be between 13.0 and 15.0 US cents. In FY23 a headline loss per share of 9.3 US cents was reported, impacted mainly by the FY23 share based payments charge on settlement of the Westcon International Equity Appreciation Plan;

* Earnings per share is expected to be between 19.0 and 21.0 US cents (FY23: 36.9 US cents) being 17.9 to 15.9 US cents (48.5% to 43.1%) lower than FY23 (which included a profit on sale of Analysys Mason of $109,9-million).

The financial information on which this trading statement is based has not been reviewed nor reported on by the group’s external auditors. The company intends to release its FY24 results on SENS on or about 27 May 2024.