Tech usage boosts Dicker Data's (ASX:DDR) half year results

Company News

by Lauren Evans

Dicker Data (ASX:DDR) posted its results for the full year ending December 31, a period where the use of technology accelerated during lockdowns.

The software company's net profit after tax rose 28.6 per cent to 73.6 million, while its revenue lifted 24.2 per cent to $2.48 billion for the year. Australian revenue grew by 16.3 per cent and New Zealand revenue grew by 128.7 per cent.

In Dicker Data’s outlook, it said the adoption of technology in the last two years has accelerated as businesses experienced a changing work environment with global and national lockdowns. The company said it worked closely with vendors to ensure business continuity for its reseller partners and their customers.

The company believes they are “well-positioned” to capitalise on the opportunity ahead as it continues to work with resellers and be the vital link to the technology value and supply chain.

A final dividend 15 cents per share is set to be paid next month.

"We continue to excel in a challenging environment and deliver a service to our vendors and reseller partner community that they value and is unmatched in the local market,” said chief executive officer David Dicker.

“Our acquisition of the exeed Group across ANZ will enable the company to benefit from cost efficiencies as a result of the combined entity’s scale, and we expect to realise these gains in this area as the integration of the New Zealand business is completed in the first half of 2022,” said chief financial officer Mary Stojcevski.

Shares in Dicker Data (ASX:DDR) are trading 0.9 per cent higher at $13.91. 

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