Data#3 predicts incoming profit boom

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Data#3 predicts incoming profit boom

Data#3 has updated its financial outlook for the first half of 2019, estimating it will rake in up to $2 million more in net profit than previously anticipated.

The company informed shareholders that its net profit before tax for the half-year is expected to be in the range of $8.5 – 9 million, compared to its previous guidance of $7 – 8.5 million.

The full interim results will be announced on 20 February.

It's welcome news for Data#3, which said it was disappointed by its 2018 full-year results announced in August last year. The company pinned its misfortunes on one-off events that negatively affected its services business, leading to an 8.4 percent drop in profits.

Data#3 still posted $1.18 billion in revenue for the year, up from $1.09 billion in 2017, but its earnings and dividend had suffered due to the mixed profit results.

Data#3 didn't pinpoint the reason for the renewed outlook, but the company has racked up a handful of high-profile wins this financial period.

This includes a deal with the Melbourne Cricket Club in November to support the stadium's IT network, a 400-device replacement for the City of Fremantle, and an Office 365 rollout for the Victorian Office of Public Prosecutions.

Data#3's shares were trading at $1.44 each at the time of writing.

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