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Synnex NZ profit grew by more than a third in 2021

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Synnex NZ profit grew by more than a third in 2021

Synnex New Zealand, the local arm of the Taiwanese distie, has reported an after-tax profit just shy of $2.5 million for the FY21, out of total revenue of $230.6 million.

These results represent a 16 per cent increase in revenue from the previous financial year figure of $198.8 million and a 33.4 per cent increase in profit.

Synnex NZ paid a total of $971,415 in income tax and nearly $4.5 million in employee costs.

In May of last year, the distie signed a deal with Google Workspace and Workspace for Education, adding productivity and learning solutions to its offerings portfolio. 

The agreement with Google paid off in October, when Synnex NZ announced a deal with the Ministry of Education to supply schools in New Zealand with Workspace for Education licenses through Synnex resellers for three years.

Other vendors on the distie’s roster include Microsoft, Amazon, Nvidia, Intel, Netgear, Acer and Lenovo.

Synnex NZ has made the most of skyrocketing IT spend in New Zealand.

Nationwide, sales of software and services alone by New Zealand’s ICT sector rose reached $13 billion in 2021.

That number represents a staggering increase of 39 per cent from 2019, according to Statistics New Zealand.

In the coming year, Gartner predicts that an extra $1.4 billion is expected to be spent on IT in the country, with every area in the sector experiencing continued growth.

The analyst company's forecast claims that total spending will grow up to just shy of $16 billion total, an increase of 9.7 per cent to $14.6 billion last year.

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© CRN New Zealand
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