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Trading statements

Datatec issues profit warning

05 October 2017 08:20

Datatec has warned that first half underlying earnings per share are likely to be 84% to 92% don on last time.

The group said it expected to report a headline loss per share of between 5 and 6 US cents (H1 FY17: earnings per share of 9.1 US cents).

It said consolidated revenue was expected to be $2.99bn (H1 FY17: $3.04bn) with a gross margin of 13.3% (H1 FY17: 13.8%).

It said the decline in earnings was primarily as a result of a worse performance in the group's Westcon subsidiary ('Westcon-Comstor').

It said Westcon-Comstor continued to experience disruption to the business as a result of the final SAP implementation in Europe, Middle East and Africa. Earnings for H1 FY18 were also hit by higher finance charges, amortisation expense and effective tax rate than in H1 FY17.

At 8:20am: (LON:DTC) Datatec Ltd share price was 0p at 325p

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