DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

Written on the 20 January 2017 by Business News Australia

DATA#3 TRADES AT 12-MONTH HIGH AS PROFIT GROWS

DATA#3 expects net profit before tax to rise 30 per cent in the first half of FY17, meeting its guidance for the period.

The Brisbane-based business (ASX: DTL) expects to report $8 million NPBT, up from $6.1 million the previous corresponding period.

The number is consistent with the first half projection from the Data#3 AGM in November of $7-$8.5 million.

Consolidated net profit after tax is also expected to be up 30 per cent compared to the first half of FY16, compared to $4.3 million in the previous corresponding period.

"These pre-audit estimates represent solid performance by the core Data#3 business, strong growth in services and a modest profit contribution from Discovery Technology.

Data#3 bought a 62 per cent stake in Discovery Technology in July 2014 and plans to take full control of the business by the end of this financial year.

The company is trading up 7.27 per cent at $1.770 per share this morning, which is a 12-month high.

Overall, last financial year Data#3 reported NPAT of $13.8 million (up 30.4 per cent) on $983.2 million revenue (up 13 per cent).

Data#3 expects to report its audited interim results and dividend on 22 February.

Business News Australia

 
Author: Business News Australia

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