In the run up to its full-year results presentation next month, JSE-listed multinational IT group Datatec says it has continued to improve its performance with economic conditions improving.
In an interim management statement, Datatec says it expects revenue for the full year of between US$4,1bn and $4,4bn, exceeding a target the group set for itself a year ago.
It will also report profit after tax of around $58m, up from last year’s $31,6m.
“This is being driven by an improving global economy, with our largest market, the US, in particular showing good signs of recovery. Asia, South America and the Middle East remain the group’s strongest performing markets, with trading conditions in Europe also improving,” says Datatec CEO Jens Montanana.
The group expects headline earnings per share to increase from $0,23 to $0,30.
“It appears we are finally returning to a growth environment that we can believe in. Gross margins are firming and profit margins expanding as the group continues to benefit from increased operational leverage and geographical reach,” says Montanana.
Investors can expect a solid performance from the group’s two major subsidiaries, Westcon and Logicalis, and Datatec says Logicalis recorded its best-ever revenue month in December 2010. — Staff reporter, TechCentral