DATA#3 SHINES A PROFIT THROUGH THE CLOUD

DATA#3 SHINES A PROFIT THROUGH THE CLOUD
EVERYONE seems to benefit from moving to the cloud, Data#3 (ASX: DTL) is really benefitting though, welcoming a rise in revenue and profit as more people move to cloud-based solutions.

The Brisbane business technology solutions leader - which deals in solutions such as cloud, big data and security - saw its revenue grow 12.6 per cent to $457.5 million over the half year to 31 December and its net profit after tax increase 19.2 per cent to $4.3 million.

In an announcement to the ASX today, Data#3 CEO Laurence Baynham says the company has a strong balance sheet with no debt and he is confident future direction will support growth.

"We continue to see a trend to move to cloud-based solutions and I am confident that we are well positioned to fulfil our customers' current and future requirements," says Baynham.

Both product and services had similar growth over the half year compared to the previous corresponding period. Data#3's product revenue lifted 12.6 per cent to $371.1 million and services revenue was up 12.9 per cent to $85.6 million.

The company notes the pressure from higher rents in Brisbane pushing up operating costs, as well as increasing staff. Total expenses increased 8.5 per cent from the same period the year before.

Data#3 will pay a fully franked dividend of 2.5c per share, up 19 per cent on the prior corresponding period.


Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Facing the latest impacts of cyber-crime: cyber insurance premiums increase for businesses
Partner Content
As Australian businesses are forced to adapt to a new normal yet again, a different typ...
Aon
Advertisement

Related Stories

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

ASX-listed software group Dubber Corp (ASX: DUB) has today acquired...

Transurban to acquire WestConnex from NSW Government for $11.1 billion

Transurban to acquire WestConnex from NSW Government for $11.1 billion

Toll road operator Transurban (ASX: TCL) today announced it will sp...

Canada's Brookfield offers $9.6 billion for AusNet

Canada's Brookfield offers $9.6 billion for AusNet

Shares in Victoria's electricity grid operator AusNet Services ...

Wesfarmers ups API takeover bid to $764m, to conduct due diligence

Wesfarmers ups API takeover bid to $764m, to conduct due diligence

Just under two months after rejecting a takeover bid from Wesfarmer...