| Thu 19 Aug 2010, 8:00 | | 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
Issuer code: DIDDT
ISIN number: GB0008435405
("Dimension Data" or "the Company")
Interim Management Statement
19 August 2010
Dimension Data Holdings plc ("Dimension Data" or the "Group", LSE and JSE: DDT),
the specialist global IT services and solution provider, today publishes an
interim management statement (IMS), covering the trading period from 1 April
2010 to 18 August 2010 (the "Period").
Financial Performance and Position
The Group recorded a strong trading performance for the three month period to 30
June 2010 (the "Quarter") in relation to a relatively weak comparative three
months ended 30 June 2009 (Q3 2009), extending the return to growth seen in Q2
FY2010. Turnover in constant currency increased year on year by approximately
22% compared to Q3 2009. Features of the Quarter were a strong performance from
the System Integration (SI) business and ongoing weak trading in Plessey.
By business, SI performed very well growing revenues strongly. Operating
leverage drove good growth in operating profit and an improved operating margin
relative to Q3 2009. Product volumes recovered strongly, whilst managed
services continued to grow in double digits. All regions recorded growth in
turnover and improved operating margins were achieved in four out of the five
regions. The operating profit improvement in the Americas was particularly
pleasing while Asia`s operating profit reduced slightly relative to Q3 2009 in
line with expectations. The SI business remains well positioned going into the
fourth quarter.
Trading in Internet Solutions and Express Data was satisfactory, while Plessey
was slightly loss making for the quarter impacted by weak order volumes in the
African business.
Working capital was well managed during the Period and the Group`s balance sheet
remains robust with a healthy cash balance.
The Group remains confident that its target of single digit constant currency
revenue growth for the full year is achievable.
Dimension Data is positive about the Group`s short and medium term prospects.
It continues to see evidence that its value proposition provides competitive
differentiation in the marketplace, and believes that successful progression of
its services strategy will provide further differentiation and growth.
Material Events and Transactions
On 15 July 2010 Nippon Telegraph and Telephone Corporation ("NTT"), one of the
largest global telecommunications service providers and Dimension Data,
announced that they had reached agreement on the terms of a recommended
acquisition of the entire issued and to be issued ordinary share capital of
Dimension Data by way of a takeover offer. Full details of the offer can be
found in the announcement and offer document which are available on the investor
relations section of www.dimensiondata.com and www.ntt.co.jp.
There were no other material events during the Period.
The financial information on which this statement is based has not been reviewed
or reported on by the Group`s auditors.
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
About Dimension Data
Dimension Data plc (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, converged communications,
security, data centre and storage, Microsoft and contact centre technologies,
and its unique skills in consulting, integration and managed services to create
customised client solutions.
www.dimensiondata.com
Date: 19/08/2010 08:00:03 Produced by the JSE SENS Department.
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