Half Year 2023 Datatec Ltd Earnings Call Transcript
Good morning. Today, we are presenting our first half FY '23 results. I'll just quickly go through the agenda. Our format is unchanged other than we are presenting updated category information to show better aligned comparative industry reporting around financial disclosure and ratios with segment analysis for hardware, software, recurring services and cloud revenues.
Slide 4, our financial results summary. The reported numbers represent ongoing operations whereas the combined include Analysys Mason, the management consulting business, which was still owned in H1, but sold in September. Revenue and adjusted EBITDA grew. However, gross profit fell entirely due to the strengthening dollar, which was mitigated by hedging policies in Westcon that protect from extreme movements. Our underlying earnings per share fell to USD 0.036 from USD 0.083 a year ago.
Slide 5. We had excellent operational performance in Westcon with continued leverage across that group. The level of recurring business and software sales
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