Data#3 indicates net profit slip

Data#3 indicates net profit slip

Number of factors will contribute to end of year net profit drop

ASX-listed ICT services provider, Data#3 (ASX:DTL), is expecting net profit to sit between $11 million to $12.5 million at the end of the 2013 financial year, compared with $13.6 million in FY12.

The company stated it was usually a busy period, but blamed a number of factors for the net profit drop including opportunities yet to be finalised, supplier delivery schedules and incentives, and year-end audit adjustments.

The Data#3 board plans to maintain the quantum of the dividend in line with the previous period, reflecting the business’ continuing strong cash flow and no net debt.

In the first half of FY13, net profit decreased 5 per cent to $6.8 million and revenue was also down 7 per cent to $406.2 million.

Last month, Data#3 expanded its 20-year relationship with the Queensland Government as a panel supplier of computer hardware and services, becoming an exclusive supplier of HP equipment.

At the time, Data#3 managing director, John Grant, said the new contract would help sustain its current business and provide opportunity for growth in the future, even in an uncertain environment across both public and private sectors.

“The Queensland Government’s decision to reappoint Data#3 recognises the benefits derived from our previous agreements,” Grant said. “We have been a long term supplier to many Queensland Government agencies and have invested significantly to ensure the product, services and procurement solutions we provide align with the flexibility and adaptability the Queensland Government needs to achieve its objectives.”

The final result will be announced on August 23.

At the time of publication, Data#3 was trading at $1.04.

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Tags HPData#3John Grantqueensland governmentfinancial year

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