Datatec Sees Full-Year Revenues Of $3.7 Bln-$4 Bln - Update

(RTTNews) - South Africa-based Datatec Ltd. (DTC.L: News ) said Thursday, in its pre-close year end statement, that financial performance remained in line with its expectations set out earlier and anticipates full-year revenues of between $3.7 billion and $4 billion. The group is slated to release preliminary results for the year ended 28 February on 13 May.

Profit after tax, excluding fair value gains or losses on options for minority shareholders in subsidiaries, is expected to be about $44 million.

The company expects underlying earnings per share, which excludes goodwill and intangibles impairment, amortisation of intangible fixed assets, profit or loss on sale of assets and businesses, fair value movements on options and unrealised foreign exchange movements, to be US$0.29, while both earnings and headline earnings per share of nearly US$0.23.

The company noted that it ended the year with a "very healthy" net cash balance. Also, it intends to maintain the level of the annual capital distribution at US$0.12 per share for the financial year ended 28 February 2010.

DTC.L is currently trading at 295.0 pence, on the LSE.

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by RTT Staff Writer

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