Datatec - FY21 underlying EPS expected to rise by over 35%
In a trading update for the financial year ended 28 February 2021 (FY21), Datatec highlighted that it expected to report a 35–39% y-o-y rise in underlying EPS to 13.4–13.8c (FY20: 9.9c). Edison’s FY21 forecast conservatively reflects a slight fall in EPS year-on-year, due to uncertainties around the pandemic. Despite the impact of COVID-19, all the group’s divisions continued to perform strongly in H221, driven by the strength of the technology sector. Management also indicated the group’s strong operating cash flows and a ‘significant reduction’ in net debt (Edison’s estimates indicate only a small fall to US$127m at FY21 year end). This looks like a very positive trading update in an uncertain global environment. We will review our forecasts after the FY21 results, expected on 25 May 2021.
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- Datatec - FY21 underlying EPS expected to rise by over 35%13 May 2021