Data#3 grows revenue

Company posts revenue of $870.5 million

Data#3 (ASX: DTL) has reported revenue of $870.5 million for the financial year ended 30 June.

This was up on last year when the company reported revenue of $833.5 million.

Net profit after tax was $10.6 million, up from $7.5 million last year,

The transition of the business to a more service centric model meant services revenue had growth of 18.9 per cent.

Product revenue was $709 million, up from 697 million last year. Meanwhile services revenue was $160.2 million, up from $134.7 million.

Earnings before interest tax, depreciation and amortisation (EBITDA) was $17 million, up from $12.2 million last year.

Data#3 chairman Richard Anderson said the past year had been a period of transition across the businesses.

“In a highly competitive and transforming technology market, Data#3 has not only been able to increase revenues but has delivered much stronger growth in earnings,” Anderson said.

“With the company having grown across all key financial metrics and a strong balance sheet, the board has increased the total dividend payable to shareholders by 40 per cent.”

CEO Laurence Baynham said the FY15 results reflected the company’s strategy of transitioning from a product centric approach to a service approach in a rapidly changing IT environment.

“We see economic conditions remaining challenging in FY16 with traditional technology investments remaining flat. However, we are seeing digital disruption as a high priority for commercial and public sector organisations and this is attracting increased investment.”

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