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Datatec net profit seen at up to $90m

ICT group Datatec (DTC) said on Wednesday it anticipated its net profit in the year to February 2013 to be in the range of US$80 million to US$90 million‚ from US$89 million in the corresponding period a year ago.

Group revenue is expected to be around $5.4 billion (2012: $5.0 billion) including Westcon’s acquisition of Afina Group in July 2012 and continued revenue growth in Logicalis.

The company said earnings and headline earnings per share were unlikely to reach those of last year‚ but were expected to be in excess of 35 US cents. Earnings per share were 43.5 US cents in 2012 while headline earnings per share were 43.1 US cents.

The lower end of all the ranges outlined above is more than 20% below the previously published forecasts.

The group expects to maintain its distribution to shareholders‚ via a final capital reduction out of contributed tax capital in lieu of a dividend‚ at 9 US cents (2012: 9 US cents)‚ making a distribution of approximately 17 US cents per share in total for the year ending February 28 2013‚ up from 16 US cents in 2012. - I-Net Bridge

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