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Data#3 estimates 38% profit growth in FY11

Data#3 estimates 38% profit growth in FY11

ICT solutions company Data#3 (ASX:DTL) has upgraded its FY11 guidance, and is now expecting a 38% increase in pre-tax profit to $21.8 million.

Unaudited results show a 16% revenue growth for the financial year to $697 million, driven by growth in services revenue, Data#3 said.

The company - which specialises in software licensing and asset management, managed infrastructure services and procurement and staffing solutions – plans to announce its audited results on August 22.

Managing director John Grant said Data#3 had beat analysts' and even its own forecasts with the anticipated result. But he acknowledged that “the market remains quite fragile.”

Data#3 indicated that it will likely be able to maintain its regular dividend payment practice, but will disclose the size of the dividend along with its financial results.

Data#3 also beat its own forecasts in 1H11, but had held back from projecting the result onto a full-year forecast due to uncertainties over how much the Queensland floods would impact profit.

On Friday, Data#3 revealed that its managing director, John Grant, had been appointed the inaugural chairman of the new Australian Rugby League's Independent Commission.

DTL shares fell 0.15% in Monday's trading to $13.520.

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Tags GuidanceData#3it servicesASX:DTLJohn Grant

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