{"id":10347,"date":"2021-05-14T20:15:12","date_gmt":"2021-05-14T20:15:12","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=10347"},"modified":"2021-05-14T17:43:31","modified_gmt":"2021-05-14T17:43:31","slug":"datatec-expects-annual-earnings-to-surge-on-tech-sector-strength","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/datatec-expects-annual-earnings-to-surge-on-tech-sector-strength","title":{"rendered":"Datatec expects annual earnings to surge on tech sector strength"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>JOHANNESBURG &#8211; DATATEC, the Joburg-headquartered information and communications technology firm, said yesterday it expected its earnings to surge in the year to the end of February because of the strength of the technology sector and despite Covid-19-related challenges.<\/p>\n<p>\u201cAll of the group\u2019s divisions delivered strong results and operating cash flows, and the group ended the 2021 financial year with enhanced liquidity and significantly reduced net debt,\u201d Datatec said in a trading statement yesterday.<\/p>\n<p>The group incurred once-off Covid-19-related and restructuring costs of $22 million (about R309 million) that were excluded from underlying earnings.<\/p>\n<p>Underlying earnings were likely to range between 13.4 and 13.8 US cents, up between 35 percent and 39 percent on the 9.9 US cents recorded a year earlier. Headline earnings per share were expected to be between 1.6 and 2 US cents, down between 66 percent and 73 percent from 5.9 US cents in 2020.<\/p>\n<p>[email protected]<\/p>\n<p><b>BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; DATATEC, the Joburg-headquartered information and communications technology firm, said yesterday it expected its earnings to surge in the year to the end of February because of the strength of the technology sector and despite Covid-19-related challenges. \u201cAll of the group\u2019s divisions delivered strong results and operating cash flows, and the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":10346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-10347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Datatec expects annual earnings to surge on tech sector strength - 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