DiData triples profits
Revenues up too...
Dimension Data, the giant networking equipment reseller, tripled profit and increased turnover in the first half of the year ended 31 March 2005.
In the first six months DiData brought in $1.3bn in revenues, up 15.7 per cent on the first half of last year. Net profit for the six months was $6.3m compared to $1.4m last year. Gross margin is stable at 20.9 per cent.
Profits work out at 5 cents a share compared with 1 cent per share last year. Wall Street analysts were predicting earnings of between one and four cent per share.
Network Integration boosted revenues by 10.6 per cent while DiData’s Solutions division increased revenues by 43.6 per cent. Solutions accounts for 28 per cent of total group revenues, up from 22 per cent last year.
DiData shares on the London Stock Exchange rose 8.5 per cent and over seven per cent on the Johannesburg Exchange.
The company remains confident looking forward.
Brett Dawson, CEO at DiData, said: “Despite some uncertainty prevailing in the wider IT Services environment, we continue to see good demand in the market segments within which the Goup operates. As a result, the Group is confident that it will continue to deliver profitable growth.”
Press release here. ®