To view the PDF file, sign up for a MySharenet subscription.

DATATEC LIMITED - Trading statement

Release Date: 30/09/2015 09:00
Code(s): DTC     PDF:  
Wrap Text
Trading statement

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "the Group")

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 2015 ("H1 FY16"), which are expected to be
released on Wednesday, 21 October 2015.

On 30 July 2015, Datatec released an Interim Management Statement informing shareholders
that the Group had delivered good revenue growth, especially in North America, and that
profitability would be impacted by restructuring in Westcon EMEA and reorganisation at Logicalis
UK as well as the continued weakness of emerging market currencies relative to the US Dollar.

In particular, the imposition of capital controls at the end of 2014 in Angola and the devaluation
of the Angolan Kwanza resulted in a foreign exchange loss of $8.9 million in H1 FY16 at
Westcon. Management has instituted a series of actions to control the exposure and reduce
further losses.

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 ("H1 FY15"). Accordingly, shareholders are advised that:

    -   total foreign exchange losses in H1 FY16 amounted to $10.6 million, equivalent to 4.9
        US cents per share (H1 FY15 $0.6 million, equivalent to 0.3 US cents per share);
    -   earnings per share and headline earnings per share for H1 FY16 will be approximately
        12.0 US cents. This is 25% lower than the 16.0 US cents reported for H1 FY15; and
    -   underlying* earnings per share for H1 FY16 will be approximately 15.0 US cents. This is
        18% lower than the 18.2 US cents reported for H1 FY15.

The financial information on which this statement is based has not been reviewed and reported
on by Datatec’s external auditors.

* 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.


Sandton
30 September 2015

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)


Enquiries:

Datatec Limited (www.datatec.com)
Jens Montanana – Chief Executive Officer               +44 (0) 1753 797 118
Jurgens Myburgh – Chief Financial Officer               +27 (0) 11 233 3301
Wilna de Villiers – Group Investor Relations Manager    +27 (0) 11 233 1013

Jefferies International Limited – Nominated Advisor and Broker
Nick Adams/Alex Collins                                +44 (0) 20 7029 8000

finnCap – Broker
Stuart Andrews                                         +44 (0) 20 7220 0500

Instinctif Partners
Adrian Duffield/Chantal Woolcock (UK)                  +44 (0) 20 7457 2020
Frederic Cornet/Pietman Roos (SA)                       +27 (0) 11 447 3030

Date: 30/09/2015 09:00:00 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.

Share This Story