Data#3 claims “best ever” financial result


Diversified IT products and services outfit Data#3 this morning claimed to have experienced its “best ever” financial result over the past year, with both revenues and profits increasing. However the good news hasn’t resulted in extra bonuses for its top executive — although other managers did benefit.

The company this morning booked total revenues of $599.2 million (up 13 percent on the previous year) for the 12 months to 30 June, earnings before interest, taxation and depreciation of $16.3 million (up 12.4 percent) and net profit after tax of $10.9 million (up 11 percent).

“2010 was a year marked by improving business confidence but continued restraint in ICT expenditure,” said Data#3 managing director John Grant in a statement.

“With our national footprint and the broad appeal of our offerings, we are targeting to once again deliver organic growth ahead of the market in all areas of the business in 2011.”

Like SMS Management & Technology, which recently revealed it was doing due diligence on two potential acquisition opportunities, Grant mentioned M&A potential in his statement.

“We will remain watchful for partnering and acquisition opportunities, mindful of the cultural and financial issues that accompany them,” he said. “Our overall financial objective is to improve on the performance of 2010.”

However, despite the company’s performance, Grant’s own remuneration package didn’t rise substantially over that of the previous year. In 2009 the MD took home a total of about $537,000, which this year increased to $556,000. Other key managers at Data#3 did better — with group general manager Laurence Baynham receiving a rise of $42k to reach $446k, for example, and similar rises across a number of executives.

Data#3’s share price is currently at $9.00 — a number slightly up this morning and close to its 52-week high of $9.30.

Image credit: Svilen Milev (web site), royalty free