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By | Kelly Fiveash 14th May 2008 11:36

Dimension Data makes cloud free forecast

No bust, all boom?

Computer services firm Dimension Data Holdings Plc saw first half group revenue climb 23 per cent to $2.17bn and expects the good news to keep coming.

The South Africa-headquartered company reported a 58.6 per cent leap in pre-tax profit of $89.7m for the six months ended 31 March 2008, compared to $56.5m a year earlier.

Net income was up to $55.9m, or 3.4 cents a share up from $32.6m, or two cents a share for the year ago period. Earnings per share shot up 41.7 per cent to 3.4 cents.

Dimension Data’s CEO Brett Dawson said in a statement today that he expects, in the medium term, to see sales increase in all of the regions the company operates in.

His optimistic tone is at odds with the ongoing turmoil in other sectors such as the financial markets.

Dawson said Dimension Data will weather the credit crunch storm, and added that the firm will benefit from gains in sales of security, internet-based telephony, data centres and videoconferencing systems.

Dimension Data stock had tumbled some 17 per cent this year. Following the interim results shares steadily rose 2.45 per cent to 52.25 pence on the London Stock Exchange this morning. ®

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