Data#3 predicts record result in the face of economic slowdown

Data#3 predicts record result in the face of economic slowdown

ASX-listed integrator expects first-half year revenue will increase by 45 per cent

Data#3 is predicting excellent first-half results

Data#3 is predicting excellent first-half results

ASX-listed integrator, Data#3 (ASX:DTL), is predicting first-half gross profits and revenue will hit record double digit growth despite the tightening market conditions.

In a guidance statement, the company announced pre-tax profits were expected to grow by 10 per cent year-on-year to $5.8 million in the six months to December 31. Data#3 has not provided guidance around its net profit result.

Over the same period, revenue will rise 45 per cent, or from $157.3 million to $228 million. CEO, John Grant, attributed the higher revenue result to its decision to recruit former Commander staff to expand into SA and WA last year.

Data#3 also experienced growth in the Sydney market and across its software licensing division. More details will be provided when the audited results are released.

“We made it clear at our AGM that what we were going to chase was market share and get revenue… somewhat at the expense of profits relatively speaking,” Grant said. “When things start to ease up, we will then have the customers and relationships.”

While Data#3’s results are a positive light in the face of the market downturn, Grant agreed the impact was only beginning to be felt.

“The economic situation is yet to play out in full – I think it’s going to be a challenging calendar year,” he said.

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