DTC
DTC
DTC - Datatec Limited - Pre-close year end statement
DATATEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
PRE-CLOSE YEAR END STATEMENT
Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, is today publishing a
year-end trading update for the financial year ended 28 February 2011.
The Group`s profitability and earnings are now expected to be better than set
out in the Interim Management Statement on 13 January 2011.
The Board expects revenues of approximately $4.3 billion, profit after tax* of
approximately $61 million, underlying** earnings per share of approximately 37
US cents and both earnings* and headline* earnings per share of approximately
32 US cents.
The Group expects to pay a dividend/capital distribution in line with its
policy, which is to have cover of at least three times, relative to underlying
earnings.
As anticipated, the Group`s year end net debt/cash position has improved since
the end of the first half of the financial year.
The Group expects to release its preliminary results for the year ended 28
February 2011 on Wednesday 11 May 2011.
The financial information on which this statement is based has not been
reviewed and reported on by Datatec`s external auditors.
*The forecasts for profit after tax, earnings per share and headline earnings
per share do not take into account any fair value gains or losses on
acquisition related financial instruments (including put option liabilities),
which are required under IFRS and are currently being assessed.
**Underlying earnings per share excludes goodwill and intangibles impairment,
amortisation of intangible assets, profit or loss on sale of assets and
businesses, fair value movements on acquisition related financial instruments
and unrealised foreign exchange movements.
Enquiries:
Datatec Limited
(www.datatec.co.za)
Ivan Dittrich, Chief Financial +27 11 233 1221
Officer
Wilna de Villiers, Group +27 11 233 1013
Marketing Manager
Jefferies International Limited
Chris Snoxall +44 (0) 20 7029 8000
College Hill
Adrian Duffield/Jon Davies (UK) + 44 (0) 20 7457 2020
Fred Cornet (SA) +27 (0) 11 447 3030
Sandton
10 March 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10/03/2011 09:00:02 Produced by the JSE SENS Department.
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