Data#3 expects bumper full year results following 'disappointing' FY2018

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Data#3 expects bumper full year results following 'disappointing' FY2018

Data#3 has predicted record profit growth ahead of its full 2019 financial year results, bouncing back from a 'disappointing' 2018.

The Brisbane-based services provider expects net profit after tax to be around $18 million for the year, a 28 percent increase from the previous year’s $14.1 million result and up 17 percent from its FY2017 result.

Data#3 said the estimate reflects a “strong performance in a growing technology market”. The number is still subject to the finalisation of Discovery Technology's results and Data#3's year-end audit.

Net profit before tax is expected to be around $26 million, compared to the $20.4 million posted in 2018.

Data#3 will release the audited full year results and the final dividend on 21 August 2019.

In the first half, the company reported revenue of $644 million, a 17 percent increase from $547 million in the same period last year, and net profit of $6.1 million, up 126 percent from $2.7 million in FY2018.

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