Data#3 sees sustainable growth in H1 FY16

Data#3 sees sustainable growth in H1 FY16

Revenue and net profit up in first half

Data#3 CEO, Laurence Baynham

Data#3 CEO, Laurence Baynham

ASX-listed Data#3 (ASX:DTL) has experienced sustainable profit growth as it continues its shift towards services for the first half of FY16, ending December 31.

Revenue rose 12.6 per cent to $457.5 million and net profit was up 19.2 per cent to $4.3 million on the previous half-year.

“Data#3’s performance both in increased profit and continuing strong cash flow allowed a 19 per cent increase in first half dividend to 2.5 cents per share, and provides shareholders with a growing dividend return as part of overall shareholder value,” Data#3 chairman, Richard Anderson said. “It has allowed us to fund the investment we have made in Discovery Technology without requiring borrowings.”

Product revenue was up 12.6 per cent to $371.1 million and services revenue lifted 12.9 per cent to $85.6 million.

Data#3 CEO, Laurence Baynham, said the company continues to see a trend towards Cloud-based services, which he was confident in Data#3’s position to fulfil customer requirements.

“Our first half performance and pipeline of opportunities provides a solid foundation to achieve our objective of improving on the company’s 2015 full year profit,” Baynham said.

Data#3 was trading at $1.10 at the time of publication.

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