DATATEC LIMITED - Trading Update for the year ended 29 February 2024
Trading Update for the year ended 29 February 2024
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec" or "Group")
TRADING UPDATE FOR THE YEAR ENDED 29 FEBRUARY 2024
Datatec, the international Information and Communications Technology (ICT)
company, today provides a trading update for the year ended 29 February
2024 ("FY24"). Comparative references are made to the year ended 28
February 2023 ("FY23").
The Group built on the strong operational performance reported for the
first half of FY24 to grow revenue and improve the quality of earnings as
it continued to benefit from the demand for its technology solutions and
services.
Group revenue for FY24 is expected to be approximately US$5.44 billion
(FY23: US$5.14 billion), representing a year over year increase of 5.8%.
Approximate divisional revenues for FY24 are expected to be as follows:
Revenue FY24 FY23 increase
%
US$ US$
million million
Westcon International 3,680 3,420 7.6%
Logicalis International 1,250 1,231 1.5%
Logicalis Latin America 510 491 3.9%
Westcon International continued to deliver an excellent financial
performance during the second half of FY24 and Logicalis International also
had a strong second half which included greater net revenue reported
software sales. Logicalis Latin America faced difficult market conditions,
especially in Argentina and Brazil, which adversely affected its
performance in the second half of FY24.
The financial information on which this trading update is based has not
been reviewed nor reported on by the Group's external auditors.
The Group intends to release its FY24 results on SENS on or about 27 May
2024.
Johannesburg
27 March 2024
Sponsor
Pallidus Exchange Services Proprietary Limited
Date: 27-03-2024 08:00:00
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