Johannesburg- and London-listed technology group Datatec is on track to produce revenues of between US$4,1bn and $4,2bn by the end of its financial year.
In an interim management statement released to shareholders on Thursday, the company said the recovery of global markets had driven an improved half-year for the technology business over the same period last year.
The news had sent Datatec’s share price up nearly 5% by lunchtime on Thursday, compared to the previous day’s close.
In the previous financial year, Datatec saw a sharp decline in revenue from $4,2bn to $3,7bn. However, the company says thanks to the recovery in international markets, it expects to regain the lost 10% by the end of the financial year.
“We remain cautiously optimistic for the year, in line with our previously published forecasts,” said Datatec CEO Jens Montanana.
The Group expects to release its interim results for the six months ending 31 August 2010 on Wednesday 13 October 2010. — Staff reporter, TechCentral
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