Datatec achieved a very resilient operational performance in the first half of the 2021 financial year, despite the challenging economic environment resulting from the Covid-19 pandemic.
All of the Group’s divisions delivered strong results and operating cash flows. The group ended H1 FY21 with enhanced liquidity.
Group revenues for H1 FY21 were $2,031-billion (H1 FY20: $2,056-billion) and Adjusted EBITDA was $66,7-million (H1 FY20: $70-million).
Westcon International revenues increased by 4% to $1,3-billion (H1 FY20: $1,25-billion) on strong demand for networked cloud computing, remote access solutions for home working and virtual office environments, unified communications and enhanced network security. Operating costs were lower than in H1 FY20, resulting in Adjusted EBITDA of $23-million (H1 FY20: $19,1-million).
Logicalis revenues reduced by 10% to $700-million (H1 FY20: $780-million). Revenues increased in Europe but reduced elsewhere with the Latin America region being impacted by adverse currency translation. Operating costs were lower than in the prior year. Adjusted EBITDA was $45,2-million (H1 FY20: $56-million).
The results for H1 FY20 included a tax credit in Logicalis Brazil of approximately $14-million relating to certain overpaid indirect taxes, as well as interest income of approximately $7-million in regard to those overpaid taxes.
Analysys Mason revenue (including acquisitions) grew to $31,8-million (H1 FY20: $27,4-million), Adjusted EBITDA was $5,7-million (H1 FY20: $4,8-million).
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 on next will differ by at least 20% from the previous corresponding reporting period.
Datatec now expects that for H1 FY21 all earnings per share metrics will be lower than the reported earnings for H1 FY20 because of the effect of the Tax Credit in H1 FY20:
* Underlying earnings per share is expected to be between 3.5 and 4.0 US cents (H1 FY20: 5.3 US cents), being 1.3 to 1.8 US cents (24% to 34%) lower than H1 FY20.
* Headline earnings per share is expected to be between 1.5 and 1.9 US cents (H1 FY20: 2.3 US cents) being 0.4 to 0.8 US cents (17% to 35%) lower than H1 FY20.
* Earnings per share is expected to be between 1.5 and 1.9 US cents (H1 FY20: 2.9 US cents) being 1.0 to 1.4 US cents (34% to 48%) lower than H1 FY20.
Sourced from: IT-Online. View the original article.
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