Data#3 profit to drop from record results last year

IT project delays will impact on Data#3's full-year financial results

Data#3 has announced its pre-tax profit is expected to be $18.5 million to $19.5 million for the 2011/12 financial year.

While the company has stated the expected result is in line with long term trends, it is still less than the $21.8 million net profit before tax the company recorded in the last financial year.

“This is a very solid result considering the difficult economic environment and the resulting tendency for our customers to delay major IT projects,” said John Grant, managing director of Data#3, in a statement.

“With the previously foreshadowed higher levels of investment, profit for the 2012 financial year is expected to be below the exceptionally strong result of the 2011 financial year, but consistent with the long term trend.

“On balance, we see this as a very good outcome that positions Data#3 well for the 2013 financial year.”

The company posted record results for the 2010/11 financial year of $15 million net profit after tax, a 37 per cent increase on the previous year.

Follow Stephanie McDonald on Twitter: @stephmcdonald0

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