RECORD PROFIT FOR DATA#3'S 40TH YEAR OF OPERATION

RECORD PROFIT FOR DATA#3'S 40TH YEAR OF OPERATION

THIS year was already a milestone for Data#3 (ASX: DTL), with 2017 marking 40 years of operations for the Brisbane based tech solutions group. Now 2017 will also go down as the year the company reached record profits, reporting NPAT of $15.4 million.

The company also recorded a revenue increase of 11.7 per cent to $1.1 billion and total sales of $158.9 million.

Data#3 CEO and MD, Laurence Baynham (pictured), says the company has now recorded six consecutive half year reporting periods of growth as it aims to increase its services business.

"We are very pleased to report another year of solid revenue growth and record profit in our 40th year of operation," says Baynham.

"In addition to delivering strong financial results, we are also pleased with our progress against our strategic objective to increase our services related business."

Reflecting the strong results, the company has declared a final fully franked dividend of 5.55 cents per share, bringing the total dividend for FY17 to 8.9 cents per share fully franked. The final dividend will be paid on 29 September.

Baynham says these results reflect the company's strategy to transition to a quality service based company.

"The FY17 results reflect the company's ongoing strategy of transition from primarily a product centric approach to an increasingly service centric approach in a rapidly changing IT environment," says Baynham.

Baynham says whilst investments in technology might plateau in 2018 the group will remain as a leader in the digital business revolution.

"We see economic conditions remaining relatively stable in FY18, with traditional technology investments remaining flat," says Baynham.

"However, we are seeing digital technologies continuing to lead business transformation in both commercial and public sector organisations."

"Our overall financial goal for FY18 is to continue to deliver earnings growth and returns to shareholders."

 

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

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

Crypto staking: a new way to earn passive income
Partner Content
You may be familiar with traditional ways of earning passive income such as trading sto...
Etoro
Advertisement

Related Stories

‘Devastated’ boss of collapsed Pivotal Homes warns that risk has swung against builders

‘Devastated’ boss of collapsed Pivotal Homes warns that risk has swung against builders

The devastated boss of collapsed Gold Coast homebuilder Pivotal Hom...

St Baker affirms commitment to Novonix as he exits board to focus on new fund

St Baker affirms commitment to Novonix as he exits board to focus on new fund

Rich lister and power industry titan Trevor St Baker, the largest i...

PEXA purchases 25 per cent stake in AI fintech company Elula

PEXA purchases 25 per cent stake in AI fintech company Elula

In a bid to bolster its fintech offering, online property exchange ...

Telus why: $1.2 billion takeover of Appen revoked “without explanation” after just eight hours

Telus why: $1.2 billion takeover of Appen revoked “without explanation” after just eight hours

It took just eight hours for Canadian telco giant Telus to revoke i...