Westcon-Comstor Australia triples profits

Westcon-Comstor Australia triples profits

Hardware revenue increased to $224 million while software revenue moved up to $199.6 million.

Phil Cameron (Westcon-Comstor)

Phil Cameron (Westcon-Comstor)

Credit: Supplied

Westcon-Comstor Australia has seen revenue climb from $412.6 million to $450.8 million while profit after tax more than tripled from $1.26 million to $4.63 million in its financial year ending 28 February. 

The results were recently published to the Australian Securities and Investments Commission (ASIC) and also displayed a rise in profit before tax from $5.88 million to $11.94 million.

Hardware revenue increased from $219 million to $224 million for the financial year, while software revenue moved up from $171 million to $199.6 million. 

Globally, Westcon-Comstor’s revenue reached US$2.89 billion, up 11.8 per cent, during the 2022 financial year due to demand for its cyber security portfolio, networking solutions, hybrid infrastructure offerings and remote access and cloud collaboration solutions.

Speaking to ARN, Westcon-Comstor Australia managing director Phil Cameron disclosed how it was building on its strong relationships with its vendors and partners, which contributed to its “really strong results last year, with bookings reaching double-digit growth”.

In Australia, Westcon-Comstor’s top vendor partners include AWS, Check Point, Cisco, F5, Juniper, NetApp, Palo Alto Networks, Tenable and VMware.

Growth in the market – particularly with software and subscription services – was delivered despite supply chain and product supply constraints that many in the industry are facing along with a large backlog of orders. 

Cameron said Westcon-Comstor was navigating these challenges through close working relationships with suppliers, planning ahead and transparency with partners. 

“Our go-to-market with partners and vendors is really strong and operationally, we’ve built a great team,” he said. “We’ve mirrored the strong demand in the market and our new financial year started 1 March and we’re continuing to see that growth and it’s buoyant.”

The results are also further backed up by its vendor and sales leadership team with David Peach, Phil Rettenmaier, John Poulter, Belinda Balchin, Pallav Shah and engaged employees.

Cameron said the company hired about 25 new staff last year and plans for an additional 21 staff across the business this year.

In the Asia Pacific region, Westcon-Comstor head of APAC and CMO Patrick Aronson said it was feeling ‘very bullish’ about where it stands as a competitor in the market. 

“There’s a couple of aspects to that - how the market looks and how we’re performing relative to the competition - and we’re having success in both areas. This is why 2022 [financial year] was an especially good year for us,” Aronson said.

“We’re in the business of hybrid cloud, networking, remote work and cyber security. Those areas were already ‘hot’ and the pandemic was just an accelerator, forcing businesses to accelerate their investment in those areas.

“In APAC, we were in the right markets, at the right time, with the right technology." 

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