ICT company Data#3 (ASX:DTL) has forecasted profits for the financial year ending 30 June 2011 to exceed previous guidance, with total revenue pegged to climb to $697 million.
In a statement to the ASX, the company predicted profits before tax of $21.8 million, an increase of 38 per cent on profits of $15.8 million for the previous financial year ending 30 June 2010.
Total revenue is forecast to climb about 16 per cent to approximately $697 million following growth in both product and services revenue.
Data#3 managing director, John Grant, said he was pleased with the result, which was ahead of the company’s expectations as well as analyst consensus forecasts.
According to Grant, despite a fragile marketplace the results indicate a positive outcome for shareholders and customers.
“While the auditors have still to complete their review, we expect the full year profit after tax will enable us to maintain our established dividend payment practice,” Data#3 chairman, Richard Anderson, said in a statement.
The company’s audited full year results plus final dividend will be released on 22 August 2011.
The Brisbane-based ICT provider increased its first-half profit by 68 per cent to a record high after the information technology services provider won market share.
Net profits rose to $7.94 million for the six months to December 31, compared with $4.73 million in the prior corresponding period.
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