Datatec posts US$2 billion revenue as operation improves

Datatec posts USD2bn revenue as operation improves

Due to its improved operational execution across all its divisions, Datatec, a global ICT Solutions and services group, posted US$2 billion in revenue for the six months ending August 31st 2018. Its earnings before interest, taxes, depreciation and amortization (EBITDA), was at US$42.6 million and underlying earnings per share were 3.6 US$ cents. Datatec chief executive Jens Montanana said their subsidiary, Logicalis, a United Kingdom-based information and communications technology infrastructure and service provider, produced good results despite emerging market currency headwinds. They did especially well in its key Latin America region. Montanana said Datatec expects improved operational and financial performance to continue for the remainder of the year. To achieve that they are addressing the valuation gap through improved execution at its other subsidiary, Westcon International, a leading international distributor of business technology Westcon International. The company will also continue its ongoing share buy-back program.

Read more here.

Shares