Data#3 ‘on track’ to better 2008 half year result
November 12, 2008Anticipates improving interim dividend to shareholders
BRISBANE, Wednesday 12th November 2008. The Board of Directors of Data#3 Limited (ASX:DTL) today announced at the Annual General Meeting that the company is on track to improve its first half financial performance over the outstanding FY07/08 result.
Chairman Richard Anderson confirmed that the first quarter result was ahead of plan and the forecast for the half year is on track to exceed the exceptional result of the previous first half. “We expected and are experiencing restraint in customer investment and higher levels of market competition and these are materialising as pressure on pricing and margins as we forecast in our annual report. However, we have a diversified business with much of our revenue under contract and at the end of the first quarter we are on plan and our first half is expected to better last year’s,” he said.
Managing Director John Grant commented that the significant expansion the company had undertaken in the latter part of 2008 had positioned it for strong increases in revenue in 2009. “While margins and profit will come under pressure in the short term, businesses that can grow the top line in a difficult market will be the best positioned to succeed even further as the market improves. We have proven over a long time that we can do this and expect to complete the half year with revenue increasing over the corresponding period by near to 50%” he said. He also indicated that “In the months ahead, with the pressure on profitability that comes in the market we are experiencing, we believe there will continue to be consolidation within the sector that will translate as opportunities for well funded and managed businesses like Data#3”.
Mr Anderson also acknowledged Managing Director John Grant’s induction into the ICT Industry Hall of Fame at the recent Australian Reseller News IT Industry Awards. “The Hall of Fame has been established to recognise individuals who have done outstanding work over a long period of time and inductees are chosen by their peers across the industry. I’m very pleased to acknowledge his induction,” he said.
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