itX sees revenue and profits rise

itX sees revenue and profits rise

Distributor reports 35 per cent revenue rise to $92.155 million in the year to June 30

ASX-listed distributor, itX, has reported a 35 per cent increase in annual revenue to $92.155 million in the year to June 30 2007.

According to its unaudited end-of-year report, the company's net profits were also up by 33.8 per cent, or from $3.18 million to $4.25 million over the 12-month period. The result was also over 70 per cent higher than its prospectus forecast. itX listed on the stock exchange in April.

Managing director, Laurie Sellers, said it experienced strong, consistent growth across all vendor lines and technology categories.

"It really was across the board - it's been a buoyant market for the second half of the year, and particularly in the last quarter," he said. "It's the strongest June we have ever seen.

"All of our vendor partners were strong and everything experienced growth in similar proportions."

Sellers attributed its improved figures to positive market conditions and a stronger business climate. This had led many organisations to invest in new server technology to handle growing workloads and software applications to manage them. Security was also top of mind with products like antivirus chalking up strong sales figures every month.

"There's a lot of development work going on as well," he said.

Sellers was confident market conditions would remain optimistic in the coming 12 months and expected itX's growth to be in line with its vendor partners.

"We're not even at the end of the first month of the new financial year but the market is strong and the people I connect with in the industry seem to be experiencing the same thing," he said. "If it continues like this we will have another very good year."

itX's acquisition plans would also play a big role in the new financial year. Last month, the distributor purchased Web hosting company, ICO International to sit within its services division.

"Acquisitions are going to be a big contributor. We are buying things that add to our bottom line straight away so we can hit the ground running," Sellers said.

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