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
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...