DTC
DTC
DTC - Datatec Limited - Interim Management Statement
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
INTERIM MANAGEMENT STATEMENT
Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, is today publishing its
interim management statement (IMS), covering the period from 1 March 2008 to 31
May 2008 ("the first quarter").
Group
Trading for the first quarter has been strong, especially considering overall
economic conditions, this is being underpinned by the broad diversity of the
Group`s revenue sources in terms of geography, technology and operations.
Despite continuing softness in the US and slower market conditions now impacting
many parts of Europe, the Board expects that the Group will deliver good revenue
growth for the first half of the year and an improved financial performance when
compared with the same period last year. Revenues are expected to exceed $2.2
billion for the six months to 31 August 2008, compared to $1.9 billion for the
six months ended 31 August 2007.
The Group`s broad international base, which includes strong contributions from
the fast developing markets of South America, Africa and the Middle East as well
as Asia-Pacific, is improving the balance of business and helping to mitigate
and offset lower growth in the US and European markets.
Westcon
The performance of the Westcon Group in the first quarter was better than the
comparative quarter of the prior financial year. A subdued performance in the
US, and slower growth in Europe, contrast with more robust performances from
South America and Asia Pacific. Revenues for the first half are expected to be
ahead of the comparative period last year. The businesses acquired during the
2008 financial year are now fully integrated.
Logicalis
The strong performance from Logicalis in the second half of last year has
continued into this year with Logicalis recording its best first quarter
performance to date, which has resulted in continued operating profit margin
expansion. These improved margins are mainly as a result of the evolution of the
services components in the Logicalis business model, and a particularly strong
performance from South America, which is expected to contribute significantly to
the first half of the year, on the back of the recent Promon acquisition.
AnalysysMason
Trading during the first quarter has been resilient and remains above levels of
the prior year. This is expected to produce an improved first half performance.
Other Holdings (Middle East, Africa and emerging Asia)
This division continues to grow revenues strongly. New countries within emerging
Asia, such as India, are being targeted for further investment.
Share repurchases
Datatec continued to repurchase its own shares for cancellation. 1,187,603
shares have been repurchased since the end of the financial year end closed
period.
Preliminary results
The Group expects to release its interim results for the six months to 31 August
2008 on Wednesday 15 October 2008.
The financial information on which this statement is based has not been reviewed
and reported on by Datatec`s auditors. This statement does not constitute a
trading statement in terms of the JSE Listings Requirements.
Enquiries:
Datatec Limited (www.datatec.co.za)
Ivan Dittrich - Group Finance Director +27 11 233 1221
Wilna de Villiers - Group Marketing Manager +27 11 233 1013
Dresdner Kleinwort
Simon Russell/James Rudd +44 (0) 20 7623 8000
College Hill
Adrian Duffield/Jon Davies (UK) +44 (0) 20 7457 2020
Fred Cornet / Hayley Crane (SA) +27 (0) 11 447 3030
15 July 2008
Date: 15/07/2008 08:00:02 Produced by the JSE SENS Department.
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