The underlying earnings and headline earnings of information and communications technology firm Datatec are expected to swing into positive territory for the financial year ended February 28.
In a trading statement issued to shareholders on Tuesday, the company reported anticipated underlying earnings a share of 6.6c – 12.2c higher than the 5.6c underlying loss a share posted for the 2018 financial year and 23.8c higher than the 17.2c underlying loss a share from continuing operations reported for the 2018 financial year.
Headline earnings a share for the year under review are expected to increase to 0.7c, a 19.8c rise on the 19.1c headline loss a share and 30.6c higher than the 29.9c headline loss a share from continuing operations reported in the prior financial year.
“The year-on-year increase in underlying earnings a share and headline earnings a share is primarily as a result of the very good progress made in reshaping Westcon International, combined with continuing improved performance in Logicalis and Analysys Mason,” the company said.
The company expects to post earnings a share of 5.5c, which is 15c, and 73%, lower than the 20.5c in 2018, as a result of the profit generated on the sale of the disposal group – the sale of Westcon Americas to Synnex and the sale of Logicalis SMC – last year.
Earnings a share from continuing operations will be 0.6c in the year under review, a 53.9c surge on the 53.3c loss a share from continuing operations in 2018.
Datatec will publish its financial results on May 16.