Data#3 posts record half year profit

Data#3 posts record half year profit

Queensland disaster expected to cause an investment lag, but integrator remains bullish

ASX-listed Data#3 (ASX:DTL) has announced a record interim profit for the half year ended December 31, 2010.

Revenue increased 23 per cent to $377.8 million compared with the same period in 2009. Of that, hardware and software product revenues grew by 22 per cent to $324.8 million, while services revenues grew 31 per cent to $51.6 million.

Profit after tax was also up – 68 per cent to $7.9 million.

The integrator has also claimed it has a strong balance sheet with no borrowings to show.

In a release to the ASX, Data#3 managing director, John Grant, said the results were well ahead of the sector.

“In a market which, while improving, remains very competitive and price-led, it has been very pleasing to see growth in all geographic regions, in all areas of specialisation and in both out products and services segments.”

While the integrator remains bullish about the market opportunities, and the financial objective is to at least equal the performance from the previous corresponding period, Grant also noted short term lag in Queensland (a major market for Data#3) investment following the recent disasters to hit the region.

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Tags Data#3financial results

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