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Post-tax profit falls flat during Dicker Data’s FY22

Post-tax profit falls flat during Dicker Data’s FY22

Revenue however was up 28 per cent, to $3.1 billion.

David Dicker (Dicker Data)

David Dicker (Dicker Data)

Credit: Dicker Data

Dicker Data’s net profit after tax during its 2022 financial year fell flat, ending the year-long period with a slight dip of 0.3 per cent, to A$73.4 million.

This is according to the distributor’s unaudited results for the year ending 31 December 2022, which it said was due to an increase in costs – particularly as a result of increased salary and finance costs.

Other operating costs include the integration of its Exeed and Hills acquisitions, which took place in July 2021 and February 2022, respectively.

For comparison, the financial year prior saw Dicker Data’s net profit after tax rise by 28 per cent to A$73 million.

Meanwhile, revenue increased by 25 per cent in the latest results, up to A$3.1 billion, and earnings before interest, tax, depreciation and amortisation (EBITDA) also increased by 9.3 per cent to A$129.8 million.

Additionally, ongoing supply chain issues and the need to hold higher levels of inventory resulted in an increase in drawn debt throughout the year, which was then impacted by increasing interest rates.

The distributor's audited results for FY22 are set to be released on 27 February.

The warning signs for Dicker Data’s flat profit were seen previously in its Q3 results for FY22, which noted a pre-tax profit of A$76.7 million, representing a 0.1 per cent increase year-on-year.

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