Datatec’s profit almost halves, hit by stronger dollar
INFORMATION technology group Datatec’s after-tax profit nearly halved in the year to end-February while revenue remained flat."It was a notably challenging year for the group. We were affected by a combination of a strong dollar impacting the contribution from our emerging market operations and major income statement charges, including foreign exchange losses due to capital controls in Angola and the reorganisation of Logicalis UK," CEO Jens Montanana said in Wednesday’s results statement.Logicalis provides information and technology infrastructure and services.Datatec’s revenue was $6.4bn, a fraction lower than the previous year’s $6.42bn. Profit for the year fell 45% to $48m.It maintained its final dividend at 9 US cents per share despite the drop in profit. This dividend translates into R1.36 for its JSE investors.The group said 35% of its revenue came from North America, 34% from Europe, 14% from Latin America, 9% from Asia Pacific and 8% from Africa and the Middle East.Its West...
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