| Mon 18 Aug 2008, 8:42 | | DDT - Dimension Data Holdings Plc - Interim management statement |
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DDT
DIDDT
DDT - Dimension Data Holdings Plc - Interim management statement
Dimension Data Holdings Plc
Incorporated in Great Britain under the Companies Act 1985
Registration Number 3704278
Share Code: DDT ISIN number: GB0008435405
("Dimension Data" or " the Group")
Interim Management Statement
18 August 2008
Dimension Data Holdings plc ("Dimension Data" or the "Group", LSE and
JSE: DDT), the specialist global IT
services and solution provider, today publishes its second interim
management statement* (IMS), covering the
trading period from 1 April 2008 to 18 August 2008 (the period).
Material Events and transactions
On 21 July 2008 Dimension Data made a proposal to acquire, by way of a
scheme of arrangement under Section 210 of the Companies Act,
Chapter 50 of Singapore, the outstanding 44.9% of Datacraft
Asia shares that the Group does not already own. The
acquisition price of US$ 133 cents per Datacraft Asia share
translates into a premium of 34% to the closing price of
Datacraft Asia on the last trading day prior to the
announcement. Funding for the total purchase consideration of
approximately US$276 million will be provided through a
combination of $156 million of internal cash resources and $120
million from the placing, on 22nd July 2008, of 136 121 909 new
ordinary Dimension Data shares at 44.25 pence per share.
There were no other material events or transactions over the period.
Financial Performance and Position
Dimension Data continued to experience good demand for its IT services
and solutions during the period. Gross margins were stable and
costs contained. As a result, the Group remains confident that
it will deliver a strong financial performance in line with
management expectations for the full financial year.
The Group maintained a solid net cash position during the period,
reflecting ongoing focus on working capital management.
Outlook
Despite continuing global economic uncertainty, the outlook for the
Group remains favourable, supported by good order intake for
the period. ICT industry trends provide an environment where
the Group should continue to grow and prosper. Dimension
Data`s execution and delivery capabilities, its quality client
base, global footprint, emerging market exposure and strong
supplier relationships are all factors which underpin our
confidence in the Group`s ability to continue to deliver
improved returns to shareholders.
Results for the 12 months to September 2008
The Group is scheduled to release its results for the 12 months to 30
September 2008 on Wednesday 12
November 2008.
The financial information on which this statement is based has not been
reviewed or reported on by the Group`s auditors.
* The Disclosure and Transparency Rules (DTR) incorporated into the UK
Listing Authority`s rulebook in 2006
have extended the requirements for periodic financial reporting, with
the introduction of a new type of report,
the Interim Management Statement, to be issued twice a year, one in each
six month period.
Investor Relations enquiries:
Karen Cramer, +(44) 793 202 0296, +(44) 20 7651 7017
karen.cramer@uk.didata.com
Kevin Handelsman, +(27) 82 453 9945, +(27) 11 575 3632
kevin.handelsman@za.didata.com
Press enquiries:
Hilary King +(27) 82 414 9623, +(27) 11 575 6728
hilary.king@za.didata.com
Note to Editors
Dimension Data (LSE: DDT), a specialist IT services and solution
provider, helps clients plan, build, support
and manage their IT infrastructures. Dimension Data applies its
expertise in networking, security, operating
environments, storage and contact centre technologies and its unique
skills in consulting, integration and
managed services to create customised client solutions.
Date: 18/08/2008 08:42:09 Produced by the JSE SENS Department.
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