Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 15, 2014 at 09:38AM

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VENTURES AFRICA – JSE-listed ICT firm, Datatec, on Wednesday said it is expecting profitability to be lower in the year to February this year due to weaker trading at Westcon North America.

The firm said Westcon has continued to be battered by the problematic ERP transition in North America and poor trading conditions in markets with weaker currencies against the dollar.

Westcon is migrating to a new international ERP system which is being rolled out in North America.

Jens Montanana, the CEO of Datatec, said despite this poor showing in Westcon US operations, the company was self-assured that the problems there are being carefully looked at and a solution is closer.

“Our recent moves to strengthen Westcon’s leadership team should quickly improve operating execution,” Montanana said.

“The business remains well positioned to continue to trade successfully and regain momentum,” he continued.

The firm said group revenues for the financial year to February this year are still likely to be between $5.6 billion and $5.8 billion.

Revenues were $5.25 billion in the previous comparable period.

Meanwhile, the group said Rob Evans, the Group’s Chief Financial Officer, has been promoted to the position of Group Operations Director, starting in June this year.

 

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