SENS Release


DTC - Datatec Limited - Final year end earnings update
5 May 2010 8:00
DTC DTC DTC - Datatec Limited - Final year end earnings update Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) JSE share code: DTC 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 2010, reflecting the fair value movements on put/call options for minority shareholders in subsidiaries. Underlying earnings per share* are unaffected by any fair value movements on put/call options for minority shareholders and are now expected to be slightly up at approximately 30 US cents per share, compared to previous guidance of approximately 29 US cents per share. On 11 March 2010 shareholders were advised that earnings per share and headline earnings per share for the year ended 28 February 2010 were expected to be approximately 23 US cents and that profit after tax for the year ended 28 February 2010 was expected to be approximately $44 million. Shareholders were also advised that these estimates did not factor in any fair value movements on put / call options for minority shareholders in subsidiaries. An increase in the fair value of put option liabilities has resulted in unrealised fair value losses of $12 million for the period (2009: unrealised gains of $16.8 million). As a result the Board now expects earnings per share and headline earnings per share to be approximately 17 US cents per share and profit after tax to be approximately $32 million. There are no cash implications for this technical change in earnings guidance. Had the fair value loss not been incurred, there would have been no change to the previous guidance for earnings per share, headline earnings per share and profit after tax. The Group expects to release its preliminary results for the year ended 28 February 2010 on Thursday 13 May 2010. The financial information on which this statement is based has not been reviewed and reported on by Datatec`s auditors. *Underlying earnings per share exclude goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and businesses, fair value movements on put / call arrangements and unrealised foreign exchange movements 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 5 May 2010 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 05/05/2010 08:00:03 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.