Datatec reports improved financial performance
Global ICT solutions and services group Datatec announced improved revenues across all divisions in its audited provisional results for the year ended 28 February 2019. Jens Montanana, Datatec’s chief executive, said the Group delivered on its commitments set in the prior year, which resulted in a much-improved operational and financial performance across all divisions. The company said Group revenue for fiscal year 2019 was USD4.33bn, a rise of 104%; EBIDTA was USD86.8bn; and underlying earnings per share were 6.6 US cents. It added that Westcon International’s turnaround objectives were achieved, along with a share repurchase of USD50.8m, while Logicalis reported strong results despite emerging market currency challenges, especially in the key Latin America region. Montanana said that with the successful turnaround of fiscal year 2019, Datatec is confident that its operations are well positioned to boost the performances of Westcon and Logicalis further and to support the Group strategy.