RealTime IT News

DiData Posts US$ 1.2 Billion Turnover

CAPE TOWN -- London-listed Dimension Data plc (DiData) yesterday announced its results for the six months ending 31 March 2001. Despite the economic slowdown, these results showed improvement across the board, with total turnover increasing 50% to US$1,225.2 million.

Other highlights include:

Total operating profit before goodwill amortization up 40% to US$122 million
Profit on ordinary activities before goodwill amortization and exceptional items grew 68% to US$159.6 million
Weighted average number of shares in issue increased by 61% to 1,212 million
Basic earnings per share before goodwill amortization and exceptional items up 29% to 8.4 US cents
Net cash inflow from operating activities of US$43 million

Africa (almost exclusively South Africa) remained the highest earner for DiData, with operating profit before goodwill amortization of US$43 million, from a total turnover of US$223 million. This represents approximately 35% of total operating profit. Asia came second with US$28 million (US$ 291 million turnover), followed by the UK with US$18 million (US$140 million turnover).

Continental Europe showed the largest growth in operating profit, from US$1,7 million for the period ending 31 March 200 to US$16,7 million for the last period.

DiData attributes this growth to new category of systems integrator offering multichannel connectivity and full business integration; progress with the integration of European businesses into a pan-European Network services provider; further penetration of the US market with several acquisitions (the most recent acquisition being of Proxicom, where DiData outbid Compaq); and the increasing strengthen of the DiData global brand.

Jeremy Ord, Executive Chairman, commented that DiData's growth in a time of economic slowing was due to "the Group's global capability [and] differentiated positioning."

He concluded with that while uncertainty in the IT services environment has increased, "We nevertheless remain confident that DiDatas unique differentiated business model positions it in markets where the consequences of these trends are diluted, and believe that the Group's prospects and pipeline for the majority of our businesses going into the second half of the year remain sound."