Datatec hits revenue targets

14.05.2008

A strong turnaround in the performance of Logicalis US helped IT network products distributor Datatec hit its target of $4bn sales in the year to end February.

Revenue rose to 27% to $4bn, up from $3.2bn, with operating profits of $123.6m, up 25% on 2007's $99.1m). Pre-tax profits rose from $89.4m to $108.3m.

In the year to 28 February 2009, the group expects to grow revenues in excess of 20%, including acquisitions, adding it is targeting further gross margin expansion and consolidated EBITDA margins of over 4% in future years.

A cash distribution of 12c per share (2007: 10 US cents per share) is to be paid out of share premium, which represents a cover of 3.8 times headline earnings, Datatec said.

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