Datatec Limited, an international Information and Communications Technology (ICT) group has published its unaudited interim results for the six months ended 31 August 2011.
- Group revenue up 14% to $2,44 billion (H1 FY11: $2,13 billion)
- Overall gross margin expanded to 14,1% (H1 FY11: 13,2%)
- EBITDA up 46% to $85,4 million (H1 FY11: $58,5 million)
- Underlying* earnings per share up 38% to 21,8 US cents (H1 FY11: 15,8 US cents)
- First interim capital distribution per share of 7 US cents
- Total capital distributions since 2006 of $125 million (approximately R1 billion)
*Excluding goodwill and intangibles impairment, amortisation of acquired intangible assets, acquisition related adjustments, profit or loss on sale of assets and businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements.
- Benefitting from business diversification, international scale and market share gains
- Continuing strong financial performance and operational leverage
- Improved business mix and growing annuity income stream
- Earnings increase at more than twice revenue growth rate
Jens Montanana, Chief Executive of Datatec, commented:
”These are very good results given the current environment. Despite the difficult economic conditions around the world, we have been able to grow revenues and improve margins in all divisions.
“In this economic climate many customers and suppliers are increasingly seeking to do business with large well capitalised multi-national companies. This is directly benefiting the Group as our businesses are gaining market share in many of the markets and geographies in which we operate.
“Gross margins and profits are up significantly as we continue to benefit from operating leverage and an improving business mix. Based on current trading conditions and exchange rates, our forecast for the full year remains unchanged.
“We are pleased to be paying our first interim capital distribution, which will result in a total of $125 million (approximately R1 billion) having been distributed to shareholders since 2006, reflecting the stability of the Group’s performance.”