Dicker Data profit and revenue soars

Dicker Data profit and revenue soars

Higher than expected vendor sales for HP, Toshiba and Asus products help boost revenue

Dicker Data has recorded a 54.3 per cent increase in profit before tax for continuing activities for the 2011 financial year ended June 30, 2011. Revenue was up 34.4 per cent on the same period last year.

Revenue came in at $385.25 million (FY 2010: $286.73 million). Profit before tax from continuing activities was $10.04 million (FY 2010: $6.51 million). This figure excludes a net loss on sale of property of $816,132 and IPO expenses of $438,847 that were expensed in the current year.

Profit before tax amounted to $8.79 million an increase of 35 per cent on the previous year ($6.51 million). Net profit after tax was $6.13 million, an increase of 35.6 per cent on the previous year.

Dicker Data noted in its filing to the ASX that the improvement in revenue was due to strong sales in the second half of FY 2011, with higher than expected vendor sales for HP, Toshiba and Asus products.

In stated the addition of new vendors during the second half and growth in the company's software licensing business also lifted revenue during the year.

Dicker recorded a record month for sales in March and noted that overall an improvement in product and direct costs had meant better margins and consequently an increase in the gross operating profit.

More to follow

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