DTC
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DTC - Datatec Limited - Final Year End Earnings Update
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
FINAL YEAR END EARNINGS UPDATE
Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, is today publishing a
final year end earnings update for the financial year ended 28 February 2009,
reflecting the fair value movements on put/call options for minority
shareholders in subsidiaries.
On 12 March 2009 shareholders were advised that earnings per share and
headline earnings per share for the year ended 28 February 2009 were expected
to be between 25 and 29 US cents. Shareholders were also advised that these
estimates did not factor in any fair value movements on put/call options for
minority shareholders in subsidiaries, required under IFRS, or any impairments
of goodwill and intangibles.
A reduction in the fair value of put option liabilities has resulted in
unrealised additional profits of $16.8 million for the period.
As a result the Board now expects earnings per share to move up to
approximately 34 US cents per share and headline earnings per share to move up
to approximately 36 US cents per share. There are no cash implications for
this technical change in earnings guidance.
Underlying earnings per share are unaffected by this unrealised profit by
definition and are still expected to be between 31 and 35 US cents per share.
The Group expects to release its preliminary results for the year ended 28
February 2009 on SENS on Thursday 14 May 2009.
The financial information on which this statement is based has not been
reviewed and reported on by Datatec`s auditors.
Enquiries:
Datatec Limited (www.datatec.co.za)
Ivan Dittrich, Chief Financial Officer +27 11 233 1221
Wilna de Villiers, Group Marketing Manager +27 11 233 1013
Jefferies International Limited
Chris Snoxall / Rupert Mitchell +44 (0) 20 7029 8000
College Hill
Adrian Duffield/Jon Davies (UK) +44 (0) 20 7457 2020
Fred Cornet / Hayley Crane (SA) +27 (0) 11 447 3030
Note to Editors
Datatec Limited is an international Information & Communications Technology
(ICT) group focused on the supply of advanced ICT and the delivery of
professional services into the higher growth segments of the global market.
The Group`s main lines of business comprise the global distribution of
advanced networking and communications convergence products (Westcon Group),
IT infrastructure solutions and network integration (Logicalis) and strategic
telecommunications consulting (Analysys Mason). Datatec is registered in South
Africa and its shares are listed in Johannesburg and London.
Sandton
5 May 2009
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05/05/2009 08:30:03 Produced by the JSE SENS Department.
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