DATATEC, saddled by a 57% rise in net debt to $174.8 million (R3.3 billion), has raised revenues and gross profit for the half year to end August 2023 by 15% and 23.7%, respectively, but is skipping paying a dividend for the period under review as it gears up for a robust second-half performance.
Despite solidly declaring that “all divisions are expecting improved performance” for the full year to February 2024, Datatec said “no interim dividend is declared” for the half-year period to the end of August. This was despite the company registering $2.7bn in half-year revenues that yielded a gross profit of $417.9m, which was 23.7% up on the prior year. The higher revenue outturn for the period came on the back of stronger demand for the company’s…