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DATATEC LIMITED - Trading statement

Release Date: 07/05/2019 08:00
Code(s): DTC     PDF:  
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Trading statement

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
(“Datatec” or “the Company” or “the Group”)

TRADING STATEMENT

Datatec, the international Information and Communications Technology (ICT) company, is
publishing a trading statement for the year ended 28 February 2019 (“FY19”).

In terms of paragraph 3.4(b)(i) of the JSE Limited Listings Requirements, companies are
required to publish a trading statement as soon as they are satisfied that a reasonable
degree of certainty exists that the financial results for the period to be reported on next will
differ by at least 20% from the previous corresponding reporting period (“FY18”).

The preparation of the FY19 results has reached the stage where the Group has such a
reasonable degree of certainty and expects that for FY19:

•      Underlying* earnings per share will be 6.6 US cents, 12.2 US cents higher than the 5.6
       US cents underlying* loss per share reported in FY18 and 23.8 US cents higher than
       the 17.2 US cents underlying* loss per share from continuing operations reported in
       FY18;

•      Headline earnings per share will be 0.7 US cents, 19.8 US cents higher than the 19.1
       US cents headline loss per share reported in FY18 and 30.6 US cents higher than the
       29.9 US cents headline loss per share from continuing operations reported in FY18;

•      Earnings per share will be 5.5 US cents,15.0 US cents and 73% lower than the 20.5
       US cents reported in FY18, as a result of the profit generated on sale of the Disposal
       Group in FY18 (as defined below). Earnings per share from continuing operations will
       be 0.6 US cents, 53.9 US cents higher than the 53.3 US cents loss per share from
       continuing operations reported in FY18.

The year over year increase in underlying* earnings per share and headline earnings per
share is primarily as a result of the very good progress made in reshaping Westcon
International combined with continuing improved performance in Logicalis and Analysys
Mason.

During the prior year (FY18), the Group completed the sale of Westcon Americas to
SYNNEX and the sale of Logicalis SMC (together the “Disposal Group”). The earnings of the
Disposal Group for the first half of FY18 are included in the underlying* earnings per share
and headline earnings per share for FY18. On a directly comparable continuing basis, the
year over year improvement in underlying* earnings per share and headline earnings per
share is even more notable.

The financial information on which this trading statement is based has not been reviewed nor
reported on by the Group’s external auditors.

The Company intends to release its FY19 results on SENS on 16 May 2019.

* underlying earnings per share excludes impairments of goodwill and intangible assets, profit or
loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised
foreign exchange movements, acquisition-related adjustments, fair value movements on
acquisition-related financial instruments, restructuring costs relating to fundamental
reorganisations and the taxation effect of all of the aforementioned.

Johannesburg
7 May 2019
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 07/05/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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