Westcon-Comstor has seen total reported net revenue jump 38 per cent to $625.7 million while reported net profit came in at $4.6 million for the financial year ending February 2023.
In comparison to the previous year, reported revenue was recorded at $453 million, while net profit was the same. Profit before tax rose from $6.9 million to $7.4 million in FY23.
The Australian business saw gross revenue of $645 million up 52 per cent year-on-year while net revenue grew 45 per cent.
Hardware revenue made up $280 million, up 25 per cent from $224 million in the previous year. While software revenue contributed $310 million, up 55 per cent from $199 million.
In New Zealand, Westcon-Comstor achieved $178 million in total revenue, up 16 per cent from $153 million.
“It was a standout year. We built a strong team four years ago; our employee engagement is high at 91 per cent. We focused on ‘101’ daily distribution and built on good relationships with partners, vendors, continued investment in global systems and an award-winning marketing team,” Westcon-Comstor Australia managing director, Phil Cameron said.
"We sincerely thank our valued partners and our treasured vendors.”
Cameron pointed out that the switch in its software-services mix made up 65 per cent of its business, proving a significant change.
Westcon-Comstor’s top vendors that helped contribute towards this strong growth momentum included AWS, CheckPoint, Cisco, F5, Juniper, NetApp, Palo Alto Networks, Tenable and VMware. Emerging vendors also made waves including BeyondTrust, Symantec/Broadcom, Netscout, and Nokia.
“Our cyber security business was sensational and grew 72 per cent,” he said.
Cameron also revealed a majority of the backlog of orders experienced due to delays during the COVID pandemic, has finally caught up in the past three months, with a solid backlog.
Westcon-Comstor Australia also snagged a few key award wins during the past year including CheckPoint Australian distributor of the year and Tenable APAC distributor of the year, along with the Cisco APJC distributor of the year. It also contributed significantly to the Palo Alto Networks APAC Distributor of the Year Award.
Additionally, Westcon-Comstor is in the midst of rolling out a new global CRM, dubbed internally as its unified sales methodology, which will see the distributor adopt a digital-first approach to selling and working with customers.
This aligns with the recent launch of the multi-vendor marketplace PartnerCentral in April, which has transformed how it works with its partner network.
The marketplace allows partners to configure, quote, and order complex hybrid solutions spanning software, hardware, services, or a combination of all three in a single checkout.
PartnerCentral is designed to accelerate and simplify the move to the cloud and “as-a-service” business models while offering advanced data insights, automation and self-service capabilities.