Datatec slides after profit warning

Comment on this story


IOL business graph

.

Johannesburg - Shares in Datatec (DTC) dropped nearly 6% to their lowest point in about five months on Wednesday after the ICT group said its full-year performance would be lower than originally forecast.

Net profit in the year to February 2013 are expected to be in the range of US$80 million to US$90 million‚ from US$89 million a year ago.

CEO Jens Montanana said: “Our global reach and diversity are continuing to provide relative resilience against the poor economic backdrop of many of the world's economies. Although disappointed by the recent developments in Westcon‚ we are not immune to the continuing weakness in many sectors‚ especially in the more mature markets. We are already adjusting our business model accordingly.”

At 9.58am‚ the share price was down 5.76% to R46.65‚ valuing the company at R8.978 billion. - I-Net Bridge


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks