Weak UK economy highlighted as concern by Datatec

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Weak UK economy highlighted as concern by Datatec

Simon Quicke
Datatec has described the state of the UK economy as weak as it revealed the state of its own fiscal finances in a trading update.

The group, which includes Westcon, issued a pre-close statement for its fiscal year ended 29 February and highlighted the ongoing challenging economic conditions in Europe and the US as features of the market that had stayed in place throughout the start of this year.

But the statement picked out the state of demand in the UK as worthy of a special mention: "There have been signs of recovery emerging in the US, however the environment in the UK is still very weak."

Datatec expects revenue for its fiscal year to reach $5bn, up from $4.3bn in 2011, and post-tax profit to reach $84m compared to $46m. The full details of the results will be announced in May.


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