LONDON (AFX) - Shares in Dimension Data PLC gained in morning deals as
investors welcomed the group's solid full year results and return to profit,
prompting Merrill Lynch to raise its price target to 40 pence from 37, dealers
said.
At 9.15 am, shares in Dimension Data gained 3/4 pence to 30. The FTSE 250
was off 4.6 points at 6,553.3.
Merrill said Dimension Data's results were better than expected, and
highlighted "excellent growth" in the solutions business.
It noted that only UK operations came in below its forecasts due to
restructuring at Merchants.
Merrill Lynch reiterated its 'buy' rating and increased its 2005 EPS
forecast by 19 pct.
UBS also noted strong full year results, with "improving results"
geographically, and margins broadly flat or better everywhere.
It added the group's outlook remains "broadly positive", but awaits further
news from the analyst meeting as the group has given a "relatively bland outlook
statement".
UBS reiterated its 'neutral' rating and 33 pence price target.
Earlier this morning, the UK-listed South African IT services group said
that for the year to Sept 30, it made a profit before tax and amortisation of
goodwill of 38.3 mln usd, turning over a pretax loss of 6.8 mln a year ago.
Operating profit for the full year period was 33.0 mln usd, turning over a
9.0 mln operating loss a year ago.
ck/wf

Cheers andrew,I am out @50pence.
Happy new year

Well on its way to 50pence now

Andrew,
DDT is quietly climbing was tempted to sell @50 but seems to be breaking out will wait for 55 pence,what are your thoughts?

Amazing performance since the recession:
Software companies now becoming interesting again as industry starts to spend:

"The NTT Directors and Dimension Data Directors are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by NTT for the entire issued and to be issued ordinary share capital of Dimension Data.

Under the terms of the Offer, Dimension Data Shareholders will receive 120 pence in cash for each Dimension Data Share.

The Offer values the existing issued ordinary share capital of Dimension Data at approximately 2.1 billion.

The Offer represents a premium of approximately:

18 per cent to the Closing Price of 101.6 pence per Dimension Data Share on 14 July 2010, being the last Business Day immediately prior to the date of this announcement;

30 per cent to 92 pence, being the average daily closing price per Dimension Data Share over the 6 months prior to 14 July 2010, being the last Business Day immediately prior to the date of this announcement; and

50 per cent to 80 pence, being the average daily closing price per Dimension Data Share over the 12 months prior to 14 July 2010, being the last Business Day immediately prior to the date of this announcement."

"Hitachi, HCL, Infosys, Cap Gem, IBM and Oracle have all been mentioned as potential counterbidders".

edit - a bit slow there!