By | John Oates 18th November 2004 16:10

DiData back in profit

'Substantial progress in the last year'

Shares in South African disty and IT services group DiData rose this afternoon after the firm made it back into profit.

For the year ended 30 September 2004 DiData made a profit of $33m compared to a loss of just over $9m last year. Total turnover for the group was $2.48bn, up 18 per cent on last year's figure. Revenue in the UK grew 10.6 per cent. Solutions revenue grew nine per cent but gross margins fell 0.5 per cent.

Brett Dawson, Dimension Data's CEO, said: "Dimension Data has made substantial progress over the past financial year... We have achieved strong growth in revenues at improved gross margins, a return to operating profitability for the Group, good progress in turning around underperforming geographies."

The firm's South African business finalised its Black Economic Empowerment transaction which it believes will remove barriers to extended business in South Africa and the rest of Africa.

More detailed accounts available for download from DiData's website here. ®