Steady growth sees Data#3 exceed revenue and profit targets

▤ Summary

Data#3 CEO and managing director, Laurence Baynham, said the first half results delivered a significant improvement compared to the previous corresponding period, as the business returns to the longer term growth trend. “The market is growing as digital transformation fuels the overall information technology spend, and we have experienced an increase in large project activity and a steady pipeline of opportunities,” Baynham said. “The current period result demonstrates the inherent strength and relevance of our solution offerings in an evolving market, and we are delighted with the rapid growth in our cloud-based business.” Looking ahead, Baynham remained confident that the Brisbane-based company can achieve its full year financial objective, in addition to delivering earnings growth and improving returns to shareholders. During its Annual General Meeting (AGM) in November, Baynham confirmed that the business made a strong start to FY19, significantly improving on last year’s first half pre-tax profit of $4.0 million. "This is in line with our full year guidance to improve on FY18 results, and sees a return to more normal trading patterns, with a lesser second half skew than in FY18."

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