Datatec sticks with forecasts despite uncertainties

Information and communications technology group Datatec said revenues and earnings had improved in the first half but growth had slowed as the macro-economic climate became more uncertain.

This became more pronounced in the second quarter in all regions with the exception of Latin America, the firm said.

However, the company said its 2013 financial year forecast remained unchanged despite the increasingly uncertain economic outlook.

Group revenue was up 7% to $2.62bn, with gross margin increasing slightly to 14.4%.

Profit before tax was down sightly to $60.4m, while headline earnings per share increased by 6% to 20.7p.

"The diversity of our business streams and our global footprint continue to be strong assets, allowing the Group to deliver a relatively strong performance against a disappointing market," said Chief Executive Jens Montanana.

"Based on current exchange rates and trading conditions our full year forecast remains unchanged but has become more challenging than we anticipated in May."