Data#3 raises 1H11 guidance

Data#3 raises 1H11 guidance

IT services provider Data#3 (ASX:DTL) has revealed it is expecting 1H11 profit of $11.6 million, ahead of its guidance for the period.

The expected result is a 70% increase on the company's 1H10 profit of $6.8 million, Data#3 said in a statement. It also compares to the company's previous guidance of between $10 million and $10.6 million.

Data#3 provides software licensing and asset management, managed services and procurement and people solutions.

Managing director John Grant said the company attributes its expected result to “the combination of the very best people, strong partners...and a focus on investment.”

But he said it is still too early to reject the half's results to full-year FY11. Data#3's business cycle has shifted in seasonality towards the first half, and the extend of the impact of Queensland floods on earnings have yet to be estimated.

He said while the floods caused no physical damage and no significant disruptions to the business, the longer-term effects on Data#3's customers could influence the bottom line.

Data#3 also revealed that its unaudited accounts show a 23% year-on-year increase in 1H11 revenue to $599.2 million.

DTL shares on Thursday jumped 7.79% to $12.460.

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Tags Data#3John Grantfinancial resultsASX:DTL

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