Datatec quadruples its earnings

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Datatec quadruples its earnings

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Published Date: 2021-10-07 | Source: INCE|Community | Author: The Finance Ghost

Datatec quadruples its earnings

Datatec is an international ICT business that has been around for more than three decades. The company operates in more than 50 countries worldwide and has over 10,000 employees. Europe is the largest revenue and profit contributor to the group, with Asia-Pacific a distant second.

There are three major divisions in the group, generating revenue from activities like systems integration, data centres, cloud services and consulting services. To obtain a deeper understanding of the group, you can refer to this article I wrote in September when the company announced a trading update.

Datatec has now released a trading statement and the distinction is important, as a trading statement is required by the JSE when results will differ by at least 20% vs. the comparable period. A trading update is a voluntary announcement by a company to keep a good news story in the headlines.

Headline earnings per share (HEPS) has blasted through that minimum requirement, with HEPS for the six months to August 2021 expected to be between 6.1 and 6.4 US cents. The comparable period was just 1.6 US cents, so earnings have quadrupled.

The detailed interim results will be available later this month, with an expected release date of 28 October.





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