Datatec's revenues fell to $2.99bn in the six months to the end of August - down from $3.04bn a year ago. Continuing revenues totalled $1.84bn compared with $1.98bn last time. Combined EBITDA was US$39.3 million (H1 FY17: US$68.9 million) and combined EBITDA margin was 1.3% (H1 FY17: 2.3%). Continuing EBITDA was US$7.7 million (H1 FY17: US$24.4 million) and continuing EBITDA margin was 0.4% (H1 FY17: 1.2%). Combined operating profit was $10.0m (H1 FY17: $40.7m) including a loss of $19.0m (H1 FY17: $0.7m) from continuing operations. The combined net interest charge increased to US$17.0m (H1 FY17: US$10.3m). Combined loss before tax was US$6.6m (H1 FY17: US$34.3m profit). Loss before tax from continuing operations was US$28.5m (H1 FY17: US$2.1m). Chief executive Jens Montanana said: 'Although the first half headline results were disappointing, we have generated exceptional value through the successful sale of our Westcon Americas business and recently the smaller disposal of the non-core Logicalis SMC business. 'In the near term, we plan to return US$350 million of cash to shareholders in a structured way to give them maximum flexibility and in due course return to shareholders any deferred cash consideration from the sale of Westcon Americas. 'The outlook for Logicalis, which contributed most of our profits, is increasingly positive with a number of important developments set to support an overall improvement in H2. 'We are moving rapidly to create the appropriate structure in Westcon International to support the direction of the business.'
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