Data#3 is expecting to see a $7.4 million pre-tax profit surge for the financial year ending 30 June, compared to FY19, with the publicly-listed IT services provider set to clock $34 million for the year.
Last year, Data#3 reported net profit before tax (NPBT) of $26.6 million, from a revenue of $1.4 billion. Its net profit after tax (NPAT) for that year was $18.1 million.
While the company is yet to publicly declare a full range of financials for the latest financial year, it has told shareholders that it expects a consolidated NPBT of $34 million — subject to finalisation of the Data#3 group year-end audit — representing a 28 per cent increase on the previous year’s tally.
The company said it is now expecting to report another “record” full year result, which is slated to be announced on 19 August.
Although it remains to be seen precisely where the profit surge has come from, the company’s FY19 financial report featured significant growth in its public cloud-based services, a factor that helped the company close financial 2019 with its reported $1.4 billion in revenue.
That result represented a 19.8 per cent increase compared to the previous reporting year when the company's revenue was $1.2 billion.
Data#3 managing director and CEO Laurence Baynham told ARN at the time that public cloud services continue to grow at a rapid rate and "a lot faster than the overall market."
"Last year our public cloud business grew 35 per cent to $363 million. The bulk of that is because we are Microsoft's largest partner in the country and in the region, and one of the largest partners globally," he said.