STEADY SHE SAILS

Finweek English Edition - - Companies & markets - BELINDA AN­DER­SON

THREE YEARS un­der the helm of a new man­age­ment team, Lon­don- and JSE-listed Di­men­sion Data is look­ing far health­ier, with con­tin­ued op­er­a­tional and per­for­mance im­prove­ments.

In the year to Septem­ber 2006, Di­data re­ported op­er­at­ing profit growth of 50% to $85m (R660m at the year-end ex­change rate), with earn­ings/share of $0,27c (R0,21) on rev­enue growth of 15,9% to $3,1bn (R24,2bn). It de­clared a maiden div­i­dend of $0,01c/share (ZAR 7,7c).

The March in­terim re­sults will be re­ported around May. The mar­ket will no doubt want to see if it has pro­gressed in Europe, the un­der­per­form­ing re­gional op­er­a­tion.

The latest an­nual re­port shows a strong in­sti­tu­tional share­hold­ing, the top three be­ing Venfin (18,32%), Al­lan Gray (14,53%) and San­lam In­vest­ment Man­age­ment (10,16%).

Di­data said it was evolv­ing from an IT in­fra­struc­ture sup­plier to a strate­gic tech­nol­ogy and busi­ness sup­plier.

Last year, it ex­panded into other ge­o­graph­i­cal ar­eas with key part­ner Cisco and also moved closer to Mi­crosoft. OP­POR­TU­NI­TIES • An in­creas­ingly dereg­u­lated South African tele­coms mar-

ket bodes well for sub­sidiary In­ter­net So­lu­tions. • Growth driv­ers in­clude the in­creas­ing de­mand for se­cu­rity so­lu­tions and the con­tin­ued trend to­wards con­verged com­mu­ni­ca­tions. RISKS • Europe re­mains a prob­lem child. • Any tech­nol­ogy com­pany with very close re­la­tion­ships to key ven­dors – as Di­data has with Cisco and oth­ers – does not en­tirely con­trol its des­tiny.

DI­MEN­SION DATA HOLD­INGS

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