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DTC - Datatec Limited - Interim Management Statement DATATEC LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC INTERIM MANAGEMENT STATEMENT Datatec, ("Datatec" or the "Group", JSE and LSE: DTC), the international Information and Communications Technology (ICT) group, is today publishing an IMS (Interim Management Statement) covering the period from 1 March 2011 to 30 June 2011 ("the Period"). Group The Group`s trading and profitability are continuing to improve. Revenues and operating profits in the Period have improved in comparison with the four months ended 30 June 2010 ("the Comparative Period"). This is driven by the Group`s global diversification and broad business mix. Overall gross margins have improved and the Group continues to benefit from operating leverage. Based on current exchange rates and trading conditions, the Group`s forecasts for the financial year ending 28 February 2012, remain unchanged. The forecasts, published on 11 May 2011, are for revenues of between $4.8 billion and $5.1 billion, profit after tax** of approximately $84 million, underlying* earnings per share of approximately 47 US cents and earnings** and headline earnings** per share of approximately 42 US cents. Jens Montanana, Chief Executive Officer said: "Our global diversity and broad business mix have continued to enable us to grow revenues and improve margins, in line with our expectations, despite varying economic conditions around the world. South America and Asia remain Datatec`s strongest performing markets." Westcon Westcon`s solid financial performance during the previous financial year has continued during the Period, with revenues and profitability showing an improvement over the Comparative Period. Gross margins have increased due to a more favourable product mix and operating margins have expanded. The best growth was achieved in Asia Pacific, AIME (Africa, India and Middle East) and Latin America. Trading in North America remained resilient, with a particularly notable contribution from Canada and solid gross margin improvement in the US. Gross margins also improved in Europe. Logicalis The steadily improving performance of Logicalis from the end of previous financial year has continued with revenues and gross profits improving over the Comparative Period. Operating margins increased due to good operating leverage. Growth was particularly strong in Latin America, primarily driven by increased capital investment by telecommunications service providers. Business remains satisfactory in the other regions. The UK is performing well, despite local economic weakness and good progress is being made in the US in new business segments. Asia is continuing to develop regionally with a joint venture initiative recently agreed in Indonesia with Metrodata, our local business partner. Consulting Services Although trading conditions are showing signs of improvement, discretionary spending amongst this division`s corporate and telecommunications customer base remains constrained. Last year`s restructuring and repositioning actions have resulted in a much better performance by Analysys Mason. Interim results The Group expects to release its interim results for the six months ending 31 August 2011 on Wednesday 12 October 2011. The financial information on which this statement is based has not been reviewed and reported on by Datatec`s auditors. * Underlying earnings per share excludes goodwill and intangibles impairment, amortisation of acquired intangible assets, profit or loss on sale of assets and businesses, fair value movements on acquisition related financial instruments and unrealised foreign exchange movements. *Forecasts for profit after tax, earnings per share and headline earnings per share do not take into account any fair value gains or losses on acquisition related financial instruments (including put option liabilities) which are required under IFRS. Enquiries: Datatec Limited (www.datatec-group.com) Ivan Dittrich - Chief Financial Officer +27 11 233 1221
Jefferies International Limited Chris Snoxall / Justin Matthews +44 20 7029 8000 College Hill Adrian Duffield/Jon Davies (UK) +44 20 7457 2020 Fred Cornet (SA) +27 11 447 3030 Sandown 20 July 2011 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/07/2011 08:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
