Datatec - Focus on Westcon International

Since embarking on a restructuring of the Westcon International (Westcon) division in FY18, management has grown divisional revenue at a CAGR of 5.7% (FY18–22) and improved profitability. Westcon has set ambitious targets in its latest medium-term plan (FY23–27), supported by its ongoing digital transformation programme. With our valuation of Westcon higher than the current enterprise value of the group, we believe that successful achievement of this plan could unlock significant shareholder value.