Cash-rich Datatec warns of weaker 2021 revenue
The group says it will not issue any forward-looking guidance, given the uncertainty brought about by the Covid-19 crisis
27 May 2020 - 13:55
With about $850m in total net assets on hand, Datatec says it has the liquidity and capital to keep its business afloat for the next 12-months but warned of weaker revenues for its 2021 financial year, given the negative effects of Covid-19.
“The economic effects arising from the Covid-19 pandemic may materially affect the consolidated results of the group for the first half and full year”, the company told shareholders on Wednesday. The situation has caused the company to put on hold plans to list its Logicalis Latin American business...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.