Datatec sees strong start to the financial year amid reshaping of Westcon business

Listed ICT firm Datatechas pointed to a “strong start to the financial year, achieving a solid operational performance across all divisions”.

On Tuesday the group published a trading statement for the six months ended August 2018 – or H1 FY19 period – noting that the reshaping of Westcon International and central cost reductions are “proceeding according to plan”.

Datatec said it expects earnings per share to be between 3 and 4 US cents (H1 FY18 1.4 cents) – more than 100% higher than in H1 FY18. Underlying earnings per share from continuing operations is expected to be between 3 and 4 cents, from an H1 FY18: loss per share of 8.7 cents.

Headline earnings per share is expected to be between 0.5 and 1 cents (H1 FY18 loss per share of 5.8 cents; H1FY18 continuing: loss per share 14.4 cents).

Earnings per share is expected to be between 0.5 and 1 US cents (H1 FY18 loss per share of 5.8 cents; H1FY18 continuing: loss per share 14.4 cents).

Datatec noted the the major disposals of the Westcon Americas business and Logicalis SMC, which were completed at the start of the second half.

The H1 FY18 earnings per share figures are therefore separated in accordance with IFRS 5 into:

  • Reported – including the results of the disposal group; and
  • Continuing – excluding the results of the disposal group and comparable with the business remaining in the group in H1 FY19.

Datatec sold Westcon Americas and 10% of Westcon International to Synnex Corporation for $830 million. Logicalis sold its SMC operation in the Netherlands for $42 million.

The company expects to republish its interim results for H1 FY19 on 18 October 2018.


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Datatec sees strong start to the financial year amid reshaping of Westcon business