Data#3 full-year profit lifts 11%
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The news: IT services provider Data#3 recorded $48.19 million in full-year net profit, an 11.3% uptick from last year's $43.3 million as gross sales exceeded $3 billion for the first time.
The numbers: Analysts had expected a net profit of $46.66 million, according to Visible Alpha figures. Statutory revenue lifted 5.8% to $852.7 million.
Gross sales hit $3 billion, up 9.09% from $2.75 billion in FY24, with analysts forecasting $2.97 billion. The uptick was in part driven by a 10.9% increase in gross sales for software solutions amid demand for security products, cloud subscriptions and Adobe from the education and public sector.
Total dividends came to 28.1 cents per share for the year, up from 26 cents last year, and above consensus estimates of 27 cents per share.
The context: Data#3 managing director and CEO Brad Colledge said the company's net profit before tax was driven by growth in gross profit and improved operational efficiency "achieved through automation and a restructure of our Infrastructure Solutions business during the first half".
Software solutions gross sales also lifted 10.9% amid demand for security products, cloud subscriptions and Adobe, particularly in the education and public sectors. Infrastructure solutions gross sales lifted 4.2%, although it was "impacted by ongoing delays in customer decision making and the Queensland election".
Data#3 however, deferred from providing specific FY26 guidance "at this stage", which the company said is consistent with previous practice. The company does expect sales to peak in May and June, as with previous years.
