Datacom back in black as Australian digital spending grows

Datacom Group CEO Greg Davidson said it had been a year of "watching costs like a hawk". (Image: Datacom)

Thu, 27 Jun 2024

A tighter fiscal belt and Australia’s economic recovery led to a healthier bottom line for Datacom Group, even as revenue remained flat.In the financial year to March 31, 2024, net profit was $34 million, up from a loss of $2m in the previous year.The technology services company posted $1.47 billion in revenue for the year, down 1%. Earnings before interest, depreciation, and amortisation (ebitda) were $152m, up 11%. Operating cash flow was $139m.Group chief executive Greg Davidson credited the return to profit to increased spending on di...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

RBNZ cuts, signals more to come

Risks around the economic outlook are heightened.

Rebecca Howard 2:15pm

Property

Commercial property sector past low point: Stride

The top brass say they expect activity to improve following 'subdued years'.

Gregor Thompson 12:45pm

Commercial property sector past low point: Stride

Infrastructure

Peters reshapes KiwiRail board with chair, deputy appointments

Former Mainfreight and NZ Post director Sue Tindal will chair the rail company.

Oliver Lewis 10:15am

Peters reshapes KiwiRail board with chair, deputy appointments

Sponsored

Tired of missing out on getting to global summits to help grow your business?

Airwallex is offering a grant for NZ businesses to join the action.

Airwallex

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

More Technology

News in Brief

Rocket Lab to join satellite payload segment

Rocket Lab says it will acquire the parent holding company of a US national security satellite provider for US$275 million (NZ$462m).It said the deal marked its formal entry into the satellite payload segment.Rocket Lab announced that it would acquire the parent holding company o...

Staff reporters 10:50am