Data#3 finished the financial year strong, balancing out first half woes
Written on the 18 July 2018 by David Simmons
Leading Australian tech business Data#3 (ASX: DTL) is preparing to release a record second half result, capping off a solid year for the listed company.
The Brisbane based company's success in the second half balances out a tough year for the company which would have otherwise resulted in a full year loss.
Data#3 expects the consolidated net profit before tax (NPBT) for FY18 to be approximately $20.4 million (down from $22.4 million at the end of the 2017 financial year).
The estimated group FY18 result incorporates a record consolidated second half NPBT of approximately $16.4 million.
The company expects its NPAT for FY18 to be approximately $14 million; a decrease of around 9 per cent compared to FY17.
"These pre-audit estimates for the full year represent solid performance in the core Data#3 business," says the company in a release to the ASX.
"Following the challenging first half, the core Data#3 business delivered a record second half result, ending the year ahead of FY17."
The company also says its Business Aspect business had a strong second half, recovering its first half loss to end with an estimated full year close to break even.
Data#3 is expected to release its full year results on 22 August 2018.
At the end of FY17 the company finished strong, with a record profit marking its 40 years of operations.
Shares in Data#3 are down 3.56 per cent to $1.62 per share at 12.56pm AEST.
Business News Australia
Author: David Simmons