Data#3 backorders sitting at $6M in gross profit

Data#3 backorders sitting at $6M in gross profit

Backorder profit doubles from FY21 as it faces “extensive” product delays.

Laurence Baynham (Data#3)

Laurence Baynham (Data#3)

Credit: Maria Stefina

Data#3’s product backorder for the financial year ending 30 June is sitting at least at $6 million this year while it faces “extensive” product delays.

According to a statement posted on the Australian Securities Exchange (ASX), Data#3 said it has experienced an inflated product backorder at year-end following the traditionally expected spike in demand during the fourth quarter of the year. 

This backorder profit is expected to be realised in the first half of FY23. As a point of comparison, its product backorder in FY21 was only $3 million.

However, Data#3 claimed it will post roughly $44 million in net profit before tax for the financial year ending 30 June 2022, representing growth of 19 per cent year-on-year.

Despite the growth, Data#3 said its FY22 result was impacted by continued supply chain constraints – particularly those around major infrastructure projects.

Additionally, supply constraints are expected to continue “well” into the latest financial year, the solutions provider added.

Data#3’s audited full year results will be released on 18 August.

The unaudited release of the solution provider’s FY22 results comes a day after it promoted general manager for infrastructure solutions John Tan to the newly created position of chief customer officer.

In his new role, Tan will be tasked with focusing on creating and managing the strategy and operational direction across the business, specifically around Data#3’s infrastructure solutions, software solutions and services sales. 

Last year, Data#3 broke its revenue records with a 20.3 per cent year-on-year rise, reaching $1.96 billion. Speaking to ARN following its FY22 half year results, CEO and managing director Laurence Baynham was optimistic that the company would crack the $2 billion revenue mark.

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