Datatec Limited Half year end trading statement (1303L)
September 29 2016 - 1:00AM
UK Regulatory
TIDMDTC
RNS Number : 1303L
Datatec Limited
29 September 2016
29 September 2016
Datatec Limited
Half year end trading statement
Datatec Limited ("Datatec" or the "Group", JSE and LSE: DTC) is
in the process of finalising its interim results for the six months
ended 31 August 2016 ("H1 FY17"), which will be released on
Wednesday, 19 October 2016.
On 20 July 2016, Datatec stated that Group revenues for the
first four months of the financial year were 11% lower than in the
comparable period but that gross margins improved. This reflected a
much stronger US Dollar in the period and exceptionally strong
revenue growth in the prior comparable period.
The Group now expects for H1 FY17:
-- revenues of $3.04 billion (7.6% lower than H1 FY16: $3.29 billion);
-- gross margin of 13.8% (H1 FY16: 13.1%);
-- underlying* earnings per share to be approximately 12.5 US
cents (24.7% lower than H1 FY16: 16.6 US cents); and
-- earnings per share and headline earnings per share to be
approximately 9.1 US cents (24.2% lower than H1 FY16: 12.0 US
cents).
Based on current trading and prevailing exchange rates, the
Group expects underlying* earnings per share for the full year to
28 February 2017 (FY17) will be better than the prior year
(FY16)**.
Underlying* earnings per share in the second half of FY17 are
expected to be sequentially better than in H1 FY17 and
comparatively better than the second half of the previous financial
year.
The financial information on which this trading statement is
based, and any forecast financial information contained in this
announcement, has not been reviewed and reported on by Datatec's
external auditors.
In terms 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 upon next will
differ by at least 20% from those of the previous corresponding
period.
* Excluding impairment 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 and
the taxation effect on all of the aforementioned.
** This forward-looking statement by its nature involves risk
and uncertainty, and although the Group has taken reasonable care
to ensure the accuracy of the information presented, no assurance
can be given that such expectations will prove to have been
correct.
The Group has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in this forward-looking statement but there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. It is important to note,
that:
(i) the forward-looking statement indicates the Group's
expectations and has not been reviewed or reported on by the
Group's external auditors;
(ii) actual results may differ materially from the Group's
expectations if known and unknown risks or uncertainties affect its
business, or if estimates or assumptions prove inaccurate;
(iii) the Group cannot guarantee that any forward-looking
statement will materialise and, accordingly, readers are cautioned
not to place undue reliance on this forward-looking statement;
and
(iv) the Group disclaims any intention and assumes no obligation
to update or revise any forward-looking statement even if new
information becomes available, as a result of future events or for
any other reason, other than as required by the JSE Limited
Listings Requirements and/or the AIM Rules.
Enquiries:
Datatec Limited (www.datatec.com)
Jens Montanana - Chief Executive +44 (0) 1753
Officer 797 118
Ivan Dittrich - Chief Financial +27 (0) 11 233
Officer 3301
Wilna de Villiers - Group +27 (0) 11 233
Investor Relations Manager 1013
Jefferies International Limited - Nominated
Advisor and Broker
+44 (0) 20 7029
Nick Adams/Alex Collins 8000
finnCap - Broker
+44 (0) 20 7220
Stuart Andrews 0500
Instinctif Partners
Adrian Duffield/Chantal Woolcock +44 (0) 20 7457
(UK) 2020
Frederic Cornet/Pietman Roos +27 (0) 11 447
(SA) 3030
This information is provided by RNS
The company news service from the London Stock Exchange
END
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