Datatec, the South African ICT powerhouse behind network sector stalwarts Logicalis and Westcon, has lamented the state of the economic recovery in the UK as it announced audited results for its fiscal 2011, which closed on 28 February.
In an otherwise upbeat statement, Datatec said that overall trading conditions in Europe were improving, but "the economic recovery in the UK remains week".
All told, the firm - which will celebrate its 25th birthday this year - made total sales of $4.3bn (£2.61bn), up 15% on 2010, with EBITDA up 31% to $142.2m and operating profit up 38% to $105m. Pre-tax profit grew 45% to $78.2m.
Total sales were split approximately 74% in favour of distribution, 19.3% from ICT solutions and 7% from services.
Westcon grew sales 13% to $3.2bn, 39% of which came from Europe and 52% from Cisco sales through its Comstor sub. Operating profit was up 38% to $91m.
The distributor said it also saw an increase in operating expenses as outbound freight costs came under increasing upward pressure.
Logicalis, meanwhile, made sales of $1.05bn, up 25%, with strong increases in Cisco and IBM. Operating profit was up 24% to $42.4m.
The unit said the investments it has made in cloud-based infrastructure and data centres should stand its UK operation in good stead for the next 12 months.
Consultign services, including Analysys Mason and Intact, saw sales up 14% to $72.5m.