Data#3 has posted strong first half FY2021 results despite what it called a “challenging” environment and changing market conditions.
In the six months ended 31 December 2020, the integrator and managed services powerhouse posted revenue of $856.7 million, up 19.2 percent year over year. That includes $346.1 million in public cloud revenue, which itself was up 37.4 percent.
Net profit before tax is up 10.2 percent to $13.9 million, while profit after tax is up 7.9 percent to $9.4 million.
Staff costs increased by $2.5 percent to $66.7 million to reflect headcount growth, which was countered by an 18.4 percent decrease in operating costs to $9.7 million. The reduction was due to reduced travel costs as a result of the COVID-19 pandemic, rent savings from the decommissioning of the Data#3 Cloud platform, and a general cost saving effort.
“We are pleased with the first half performance, delivering another record result despite the challenging environment and changing market conditions,” Data#3 boss Laurence Baynham said.
“Once again, this result clearly demonstrates the inherent strength and relevance of our solution offerings in an evolving market.”
Baynham added it was “reassuring” that approximately 62 percent of Data#3’s total revenue was recurring, derived from contracts with government and large corporate customers.
“We continue to see growth in the Australian IT market, and believe we are well positioned to capitalise on that opportunity as we continue to develop and offer solutions for our customers’ changing requirements,” he said.
“The solid first half performance and pipeline of opportunities for the second half give us confidence that we will achieve our full year financial objective, being to deliver sustainable earnings growth.”
Data#3 chairman Richard Anderson said, “The results reflect the ongoing successful implementation of the company’s strategies over a number of years, and the company’s resilience to the challenges of the current environment.”