Datatec warns of falling interim earnings
INFORMATION technology group Datatec has warned that underlying earnings a share will fall almost 25% in the six months to August.EPS and headline earnings a share will be down about 24%.But the revenue picture has improved since the company’s trading update in July, when it said revenue would fall 11%, citing a strong dollar and an exceptional revenue performance in the prior year.Revenue for the six months was expected to fall 7.6%, but gross margin would improve to 13.8% from 13.1%, Datatec said in a Sens statement on Thursday.The company now expected full-year earnings to be better than in the previous year.The company has operations in more than 60 countries in North America, Latin America, Europe, Africa, the Middle East and Asia-Pacific.Full-year profit slumped 30%, while revenue was more or less flat at R6.5bn.
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