Data#3 expects to report sustained earnings growth

  • FY17 NPBT estimate approximately $22.4 million, an increase of around 15%
  • FY17 NPAT estimate approximately $15.2 million, an increase of around 10%

BRISBANE, Monday 24 July 2017: Australian business technology solutions leader Data#3 Limited (ASX: DTL) has advised that, subject to confirmation of the Discovery Technology Pty Ltd result and the Data#3 group full year audit, the consolidated net profit before tax (NPBT) for FY17 is estimated to be approximately $22.4 million, representing growth of approximately 15% compared to FY16.

The consolidated net profit after tax (NPAT) excluding non-controlling interests is estimated to be approximately $15.2 million, an increase of approximately 10% compared to FY16.

These pre-audit estimates represent solid performance across the Data#3 business, with growth in services and cloud-based business, and a positive contribution from Discovery Technology through its return to profitability.

Data#3 is also pleased to announce that it has exercised an option to acquire a further 15.8% shareholding in Discovery Technology, increasing its total shareholding from 61.6% to 77.4% at the end of July 2017.

The additional investment of approximately $0.7 million will be funded from cash flow. The remaining 22.6% shareholding will continue to be owned by Brendan Williams, CEO and original founder of Discovery Technology.

The board intends to announce the audited full year results and the final dividend on 23 August 2017.

Click here to view the full media release.