IT firm Datatec Ltd posted a decline in headline earnings per share for the 6 months to end August, in line with its own forecasts, and said it is looking for expansion opportunities.
The company, which is listed in London and Johannesburg and is a distributor for companies such as Cisco, said in a statement headline EPS fell to US4.9c in the 6 months to the end of August from US17.6c for the same period the previous year. It said diluted headline EPS came in at US4.8c compared to US17.4c in the previous period. The company said earnings were affected by the effects of the fair value adjustments of the put option liabilities. It added that excluding put option fair value adjustments, headline EPS would be US8.5c.
The group earnings before interest, tax, depreciation and amortisation (EBITDA) was down to $44.6-mn, which included unrealised foreign exchange losses of $0.6-mn and realised foreign exchange losses of $5-mn. The company said it expects both earnings per share and headline earnings per share for the 2010 financial year to be about US23c.
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