Brisbane-headquartered IT solutions giant Data#3 has posted another strong half-year result showing continued growth in its cloud-based services revenues for the period ending 31 December 2016.
Data#3's total revenue was up 10.6 percent to $506 million, with $58 million coming from the cloud business alone. Cloud revenue, which includes both services and products, saw 44.2 percent growth.
Chief executive Laurence Bayhnam said: "The solid financial and operational results reported today reflect our strategic and increasing focus on growing our portfolio of services. This includes the rapidly growing cloud services market and I am confident that we are well-positioned to satisfy market demand."
Data#3 also revealed its priorities for the current financial year, which include establishing a health sector practice and emulating the success the company has seen with investments in the education sector.
Last year, Data#3 claimed to be the national IT leader in education, with sales to schools surpassing $100 million.
Breaking down its results, Data#3 revealed an 11.5 percent growth in product revenue to reach $413 million. Services revenue was up 6.6 percent to $91 million.
Earnings were up 25.2 percent to $9 million and net profit after tax was up 34 percent to $5.7 million.
Staff costs increased by 6.6 percent with market-based increases and headcount growth in the Business Aspect consulting unit.
"Our first half performance and pipeline of opportunities provides a solid foundation to achieve our objective of improving on the company’s 2016 full year profit," Baynham added.
Data#3 has more than 1100 employees across eight offices, three integration centres and three data centres in Australia.
The company was named a CRN MVP in 2016 in recognition of its multitude of vendor partnerships.
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