Full Year 2024 Data#3 Ltd Earnings Call Transcript
Key Points
- Net profit before tax increased by over 16% to $62.1 million.
- Gross sales reached a record $2.8 billion, up by 7.6%.
- Recurring business grew to 67%, driven by managed services and software solutions.
- Data3 Ltd was recognized with multiple industry awards, including Global Software Partner of the Year with Cisco and Microsoft.
- The company maintained a strong balance sheet and efficient working capital management.
- Infrastructure solutions business saw a decline due to customers pre-ordering in prior periods.
- Consulting sales were down slightly due to a highly competitive market and reduced demand.
- Internal cost ratio increased slightly from 80.3% to 80.6% due to inflationary pressures and investments.
- Economic conditions and delayed customer decision-making impacted growth rates.
- The company faces ongoing challenges with delayed decision-making in infrastructure projects.
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Thank you very much and good morning, and thank you for joining us for the briefing of Data#3 FY24 results. I'm joined by Cherie O'Riordan, our CFO, who will be covering our FY24 financial highlights a little later in the presentation.
For those registered with our agencies should have the presentation in front of you now or the presentation is also being lodged with the ASX. So we'll be calling out some slide numbers as we proceed through the presentation, just to make sure people know where we we're at.
So, I'll kick off and just for those that's not familiar with. Data#3 is an ASX 200 listed IT services and solution provider in Australia and Pacific Islands. Our vision is to harness the power of people and technology for a better future. We have 47 years of experience in evolving our solutions to enable our customer success, and we partner with world leading technology vendors. We are delivering the digital future for our customers through our solutions that we
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