ASX: DTL Plunges on ASX post second half results’ update

Data#3 Limited (ASX: DTL) under the information technology sector has recently announced the consolidated net profit before tax (NPBT) for FY18 estimated to be approximately $20.4 million (FY17 $22.4 million), subject to finalization of the Discovery Technology Pty Ltd result, and the Data#3 group year-end audit. The estimated group’s FY18 result incorporates a record consolidated second half NPBT of approximately $16.4 million (PCP $14.3 million), which is a decrease of around 9% compared to FY17; and the FY18 net profit after tax (NPAT) excluding non-controlling interests is estimated to be approximately $14.0 million.

The current estimate of Discovery Technology’s second half NPBT is approximately $1.4 million below the prior corresponding period (PCP). This is mainly due to a customer’s early termination of a 5-year supply contract. Instituted by Discovery Technology, this action is currently subject to legal proceedings for debt and economic loss recovery. DTL estimates for reporting approximately $20.4 million as FY18 group NPBT and there is an estimate of approximately $14.0 million for FY18 group NPAT.

Data#3 Limited’s (ASX: DTL) stock closed trading at a market price of $1.61 as at July 18, 2018, and has seen a price change -4.45%.


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