Datatec stock falls more than 10% after warning of headline loss
Datatec’s share price fell 12% on Thursday morning after it warned shareholders it fell into a headline loss in its 2018 financial year.The computer group said it expected to report on May 17 that it fell into a headline loss per share of about 20 US cents for the year to end-February from the prior year’s headline earnings per share (HEPS) of 2c.But basic earnings, which include its profit from its $830m sale of Westcon Americas, will jump to about two US cents from 1.4c.Datatec said the drop in HEPS was due to Westcon Americas only contributing to the first half of its financial year before its sale in September.Earnings also suffered from "weaker financial performance for Westcon International in the 2018 financial year compared to 2017, which contrasted with a much stronger performance in Logicalis and Analysys Mason".Datatec said it will report significantly lower amortisation expenses in future financial years as it had moved $247m goodwill and $33m development expenditure off...
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