BRISBANE, Australia – 27 January 2011 – Data#3 Limited [ASX: DTL], a national information and communications technology (ICT) company, today confirmed that the profit for the first half of 2010/11 is expected to be ahead of previous guidance.
At its Annual General Meeting on 5 November 2010 the company announced that the first half was expected to be significantly ahead of the previous year, at that time predicting a first half net profit before tax in the range of $10 to $11M, an increase of approximately 50 to 60%.
While yet to be reviewed by the company’s auditors and finalised, a profit before tax of approximately $11.6M is now expected for the first half of 2010/11. This represents an increase of approximately 70% on the 2009/10 first half result of $6.8M. Revenue is expected to increase approximately 23% overall with solid growth in product and services revenues.
“This is a fantastic first half result, ahead of all expectations,” commented Data#3 Managing Director John Grant. “All areas of the business have performed well. We attribute this to the combination of the very best people, strong partners with whom we have developed a range of offerings that represent value to our customers and a focus on and investment in operational excellence leveraged through our national presence,” he said.
“It positions the company well for the full year, however we caution shareholders against projecting these first half results. We have seen some shift in seasonality toward the first half and we will be incurring additional occupancy and people related expenses in the second half. We have also yet to assess the impact, either positive or negative, that the recent flooding particularly in Queensland may have on the business in the second half. Fortunately we experienced no physical damage to our business premises and very limited disruption to operations in Brisbane during January however the longer term impact on our customers is yet to be determined. Our overall financial objective for the full year is to improve on the performance of the previous year. We will advise shareholders should things change materially and will provide more specific guidance when we have better visibility of the likely full year result.”
The board indicated its intention to continue dividend payout rates similar to those of the previous year. The final first half results and the interim dividend will be announced on 21 February 2011.
Data#3 Limited [ASX: DTL] is a national Information and Communication Technology (ICT) solutions company.
Data#3 provides market leading expertise in:
Data#3’s customers cover a wide range of industries including banking and finance, mining, tourism and leisure, legal, healthcare, manufacturing, distribution, government and utilities located throughout Australia and Asia Pacific.
Data#3 reported revenues of $599 million in the 2009/10 financial year, and has over 550 employees. The company is headquartered in Brisbane, and has offices located in Sydney, Melbourne, Canberra, Adelaide, Perth, Townsville, Rockhampton and Gladstone.