Dimension Data revs up despite US sales slump
'Demand remains constrained'
Computer services firm Dimension Data Holdings Plc expects to see a 13 per cent rise in revenue for the three months ended 31 December 2008, compared to the same period a year earlier.
The South Africa-based company said US sales, that accounts for 15 per cent of DiData’s total hardware and services revenues, fell in the period. But revs climbed in constant currency terms in other regions, it said in an interim statement.
"An ungeared balance sheet, diversified geographic exposure and recurring revenue base are additional assets which position us well to weather a potentially tougher trading environment," said the firm.
Dimension Data grew revenues by 19.5 per cent and net profits by 32.8 per cent in the year ended 30 September 2008. Group revenues were $4.5bn and net profit was $114m, up from $86m a year earlier.
DiData, which pulls in 60 per cent of revenues from Asia, the Middle East, Africa and Australia, said it expected to deliver constant currency growth in the first half of 2009, despite facing constrained market conditions.
The services giant is listed on the London Stock Exchange, has units in 45 countries and carries a market capitalisation of about 8.7bn rand.
However, the City doesn't seem quite as confident about DiData's expectations. Shares in the company are currently down 0.70 per cent trading at 35.50 pence on the LSE.
The firm will release its results for the six month ended March 2009 in May. ®