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Datatec's profits climb to US$66-million
Information technology company Datatec reported diluted headline earnings of 19,2 US cents a share for the six months to August and it attributed to the improved profitability to robust growth in Westcon and Logicalis, two of its subsidiaries.
According to a report by I-Net Bridge, published in Business Day, revenue for the company rose by 14% to $2,44-billion, up from $2,13-billion for the same period last year.
Despite having more people working for the group and the higher freight costs required to move products around the globe, Datatec recorded an operation profit of $66-million, up from $40-million last year.
Westcon, speciality distributors of advanced network technology solutions in America accounted or about 74% of Datatec's revenue mainly as a result of increased demand for cloud computing services and wireless broadband.
British-based Logicalis contributed 25% of Datatec's revenue mainly as a result of double-digit growth in the markets in which it operates.
Read the full article on www.businessday.co.za.
View Datatec's financial results.
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