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On track for $1 billion FY15 after Q3 exceeds expectations: Dicker Data

On track for $1 billion FY15 after Q3 exceeds expectations: Dicker Data

FY15 Q3: Has upgraded profit forecast from $30.9m to $31.5m

David Dicker, CEO and chairman, Dicker Data with Susan Searle, president, IDG channel division at Dicker Data's Tech X roadshow

David Dicker, CEO and chairman, Dicker Data with Susan Searle, president, IDG channel division at Dicker Data's Tech X roadshow

Dicker Data has more than doubled its profit for Q3 in its latest financial results, from $2.5m in Q3 2014 to $5.4m Q3 2015, and is on track to reach its target of $1bn in revenue for the year.

Australia's largest homegrown distributor posted revenue of $273.7 million for the third quarter of 2015, up $10.5m on this quarter last year.

The company claims that it is exceeding its nine-month tracking for the year, reaching $802.9 million in revenue, and is on track to become the first homegrown distie to reach $1bn in revenues in a year.

The company had previously issued guidance to the market of a pre-tax profit of $30.9 million for the year, it has revised that to $31.5 million.

The company attributes its success to the growth of its new vendors picked up in the first half of the year, Intel, Lenovo System X, and Toshiba in the New Zealand market. It has also picked up Veritas (post its split from Symantec), Paessler and IBM Softlayer. It has also launched Xplore Technologies and Shoretel in New Zealand.

The company also announced the launch of its CloudPortal at its first ever Dicker Data Tech X roadshow earlier in the year, which toured most of the major capitals in Australia. No figures were provided for the new initiative.

Dicker Data has also won several industry awards, including ARN's own Hardware Distributor of the Year for the fourth consecutive year, HP's Enterprise Distributor of the year, Cisco's Distribution Sales Champion for Australia, and APC's Best Distributor for the Pacific Region.

The company has also significantly paid down its debt from the Express Data purchase in early 2014, from $110 million as at June 2015, to $89.7 million currently. It went to the market for capital raising in August, which saw it raise $45.5 million. This has seen its debt-equity ratio drop from 5.29 to 1.79.






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Tags Dicker DataFiona DickerDavid DickerCloudPortalBen Johnsonfinancial resultsARN AwardsYasser Elgammal

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