IT distributor Dicker Data has posted first quarter 2022 results showing a 50 per cent revenue increase and 22 per cent profit hike year-on-year.
In the first quarter, total revenue rose to A$673.6 million (NZ$742.9 million).
Profit before tax was up by A$4.4 million to A$23.8 million (NZ$26.2 million), up from A$19.4 million (NZ$21.4 million) for the same quarter last year.
Chairman and chief executive David Dicker described the company performance as outstanding, despite supply chain disruptions caused by the ongoing chip shortage and the introduction of its retail performance in New Zealand lowering margins for the quarter to 8.6 per cent.
In New Zealand, Dicker Data expects to consolidate its business with Exeed's in one location, in Parnell in Auckland, build a new warehouse in Manukau.
The company expects margins to finalise at around nine per cent for the full year ending December 31, 2022.
Dicker Data's acquisition of Exeed contributed A$90.3 million in Q1 revenue across Australia and New Zealand.
Apart from Exeed, Dicker Data completed the acquisition of Hills Security and IT division early May this year.
This resulted in the creation of Dicker Data Access and Surveillance, which will distribute security technology solutions, and pre- and post sales support.
In March this year, Dicker Data expanded its agreement with connectivity hardware vendor StarTech to include the New Zealand market.