Pre-tax profit growth reflects underlying strength of the business
BRISBANE, Thursday 14 July 2022: Australian business technology solutions leader Data#3 Limited (ASX: DTL) has advised that, subject to audit, it expects to deliver a consolidated net profit before tax for the financial year ending 30 June 2022 (FY22) of approximately $44 million, representing an increase of approximately 19% on the prior year (FY21: $36.9 million).
The FY22 result was impacted by extensive product delays related to continued supply chain constraints, as has been experienced across the industry, particularly for major infrastructure projects. This has coincided with the spike in demand traditionally experienced during the fourth quarter, resulting in an inflated product backorder at year-end.
The pre-tax profit associated with this backorder is estimated to be at least $6 million, which is expected to be realized in the first half of FY23. This compares to the $3 million backorder at the end of FY21. Supply constraints for various product sets are expected to continue well into FY23.
Data#3 will announce its audited full year results on 18 August 2022, and it is the board’s intention to maintain the historic dividend payout ratio.
The company will present a market briefing on the results starting at 10:30am (AEST) on 18 August 2022.
The following URL will provide access to the live event, and to an archived webcast following the event: