JENS MONTANANA, CHIEF EXECUTIVE OF DATATEC, COMMENTED:

"Datatec showed great resilience during a period of unprecedented Covid-19-related disruptions. Our divisions provide many of the products and services required to support a remote IT networked based way of doing business, an increasing trend that we see continuing well beyond the current pandemic.

"EBITDA performance improved, when excluding the impact of a tax credit in the prior year's first half, supported by several multi-year investments in advanced technology systems that underpin our internal processes and operational initiatives.

"Working capital has been well managed and liquidity continued to improve considerably during the period. Our ability to refinance facilities on substantially improved terms in the current environment reflects the improvement in fundamentals across the business over the last few years.

"Whilst the path of Covid-19 remains uncertain, Datatec is well positioned to support its customers' requirements and we anticipate the positive momentum experienced during the first half to continue throughout 2020 and into 2021."

COMMENTARY

Current trading and outlook

The positive momentum of the first half continued into the second half of the year with a strong performance recorded in September. The Group's backlog and order intake have remained solid. The Group provides many of the solutions and services required for an increased IT networked way of doing business, such as remote working, cloud access and fixed or mobile secured networking and the business is currently benefiting from this.

Operationally, the Group's focus remains on optimising business performance and internal processes for the current environment.




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