Datatec (DTC) 1H23 – Results Snapshot

Diluted HEPS from combined operations 4.6cps (USD) compared to 6.2cps LY. Diluted HEPS from continuing operations down 27.7% y-y to 3.4cps.
Revenue from continuing operations increased by 8.8% y-y to $2 408m, driven by 16.1% y-y growth by Westcon International.
GPM fell by 200bps to 14.0%.
OPM decreased from +1.5% to 1.0%.
Expenses reduced by 2.2% to $313m, while expenses to revenue fell by 150bps to 13.0%.
Special dividend of 1 250 cents (ZAR).
Gross debt up 3.2% y-y.
Cash from operations down 235% y-y.