Profit expectations have slipped at solution provider Data#3. The company is now forecasting net profit after tax for FY13 will be down by close to $1 million compared to the previous year.
In an announcement to the ASX, Data#3 expects NPAT for FY13 to be in the range of $11 million to $12.5 million, compared to $13.67 million for FY12.
With a final result to be announced on August 23, the company indicated it will maintain a dividend, reflecting the business’s strong cash flow and zero debt.
Data#3 also faced a tough first half of FY13, reporting a 5 percent fall in net profit to $6.8 million. At the time, managing director John Grant attributed the fall in profit to the lack of certainty around the Queensland government’s stalled State of IT review.
However at the same time, the company also signed a $50 million deal in conjunction with Dimension Data to network and services to the Fiona Stanley Hospital in WA.
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Issue: 324 | February 2014
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