DTC
DTC
DTC - Datatec Limited - Interim earnings up more than 33% and interim capital
distribution to be paid
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
INTERIM EARNINGS UP MORE THAN 33% AND INTERIM CAPITAL DISTRIBUTION TO BE PAID
Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international
Information and Communications Technology (ICT) group, is currently finalising
its results for the six months ended 31 August 2011 ("the Period"), which will
be published on 12 October 2011.
As a JSE listed company, Datatec is required to publish trading statements if
the financial results for a given period are more than 20% higher than the
results of the previous corresponding period. As described in more detail below,
underlying* earnings per share, earnings per share and headline earnings per
share for the Period are expected to be more than 20% higher than the previous
corresponding period of six months ended 31 August 2010 (the "Comparative
Period").
Group revenues for the Period are expected to be approximately $2.4 billion,
compared to approximately $2.1 billion in the Comparative Period, with overall
margin expansion.
Underlying* earnings per share for the Period are expected to be between 21 and
22 US cents per share, compared to 15.8 US cents per share for the Comparative
Period, an increase of between 33% and 39%.
Earnings per share and headline earnings per share are expected to be between 19
and 20 US cents per share, compared to 8.8 US cents in the Comparative Period,
an increase of between 116% and 127%.
Interim cash distribution by way of a capital reduction
The Board has resolved to amend the group`s dividend / capital distribution
payment policy from making a single annual payment to making both interim and
final distributions with immediate effect. The dividend cover policy of at least
three times relative to underlying* earnings per share will apply to both
interim and final distributions.
The first interim distribution will accordingly be declared for the period ended
31 August 2011 with the interim results announcement on 12 October 2011.
Financial information
The financial information on which this statement is based has not been reviewed
and reported on by Datatec`s auditors.
*Underlying earnings per share excludes goodwill and intangibles impairment,
amortisation of acquired 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 Officer +27 (0) 11 233 1221
Wilna de Villiers - Group Marketing Manager +27 (0) 11 233 1013
Jefferies International Limited
Chris Snoxall +44 (0) 20 7029 8000
College Hill
Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020
Frederic Cornet (SA) +27 (0) 11 447 3030
Sandton
15 September 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 15/09/2011 08:00:38 Produced by the JSE SENS Department.
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