/ 12 November 2000

DIDATA PROFITS SOAR PAST FORECASTS

SOUTH African-based IT services company Dimension Data Plc says it sees prospects remaining strong after it reported a 79% rise in pre-tax profits to $244.6m. This was at the top of the $212-245m range of analysts’ expectations for the company, which supplies computer network support. Turnover was $1.94bn, 71% up. ”The pipeline in all businesses going into the new year is strong,” Chairman Jeremy Ord said as he released the first results since Didata moved its primary listing to London, entering the FTSE 100 index of top companies at number 42. It moved in July, raising some $1.4bn that it has been using to buy control of subsidiaries it had previously been unable to own due to South African regulations. It has also gone on the acquisitions warpath, particularly in the United States, and said this would continue. Didata, which makes one third of its sales by reselling Cisco Systems equipment and looking after it, gave no details of new purchases but said it was looking to extend its worldwide coverage. – Reuters