Datatec warns on US.
Investors Chronicle - magazine and web content, September, 2007
Networking equipment reseller falls 6 per cent as demand swings out of line with costs in the US Tim Bradshaw
Shares in networking equipment reseller Datatec fell 6 per cent when it warned profits in its US business, Logicalis, would be below the first half of last year. Operating costs had increased due to acquisitions, but a 12 per cent reduction in staff should bring them back into line with weakening demand.
The bad news was partially offset by good growth in Europe and Asia, but Dresdner Kleinwort has nevertheless downgraded its forecasts for the year to 2008 by 9 per cent to 41.1c (2007: 40.0c).
Swift restructuring should protect next year's earnings, and Datatec is exposed to attractive parts of the technology sector at a lower rating...
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