Data#3 claims record AU$15.4m profit in FY17

Data#3 reported an after-tax profit of AU$15.4 million on revenue of AU$1.1 billion in the 2017 financial year.

Australian-listed business technology solutions firm Data#3 has reported an after-tax profit of AU$15.4 million for the full year ended June 30, 2017, up 15 percent from the AU$13.8 million reported in the previous financial year.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased 10.4 percent from AU$22.4 million in FY16 to AU$24.7 million in FY17.

Revenue rose 11.7 percent year on year from AU$983.2 million to AU$1.1 billion.

Data#3's products across mobility, cloud, security, data analytics, and IT lifecycle management generated AU$889.2 million in revenue, up 12.4 percent from AU$791.3 million in FY16 and representing more than 80 percent of Data#3's total revenue. Services, including cloud services, brought in AU$208.1 million, up 9.5 percent year on year from AU$190 million.

"We have now delivered six consecutive half-year reporting periods of growth," Data#3 CEO and managing director Laurence Baynham said in a statement.

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

The Brisbane-based company's total expenses during FY17 grew 6.5 percent year on year from AU$129 million to AU$137.4 million. AU$114.1 million of total expenses represented internal staff costs, up 8.6 percent over the year, while operating expenses amounted to AU$23.3 million, down 2.6 percent over the year.

Data#3 currently has 4,743 customers across the telecommunications, banking, utilities, staples, and healthcare sectors.

The 40-year-old company currently employs 1,177 staff, with headcount remaining relatively constant over the year.

The company acquired 61.6 percent of Wi-Fi analytics company Discovery Technology in July 2015, and increased its stake to 77.4 percent in July this year. Discovery Technology operates independently of Data#3.

Data#3 plans to continue on its current growth trajectory.

"We are currently on track with our strategic plan which contains three long-term objectives, being to deliver sustained profit growth; to grow services revenue with an increase in annuity and an increase in margin; and to grow cloud services revenues," Baynham said.

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