Dicker Data revenue and profit soar in FY 2012
- 31 August, 2012 17:23
Dicker Data has delivered a record revenue of $457 million for the 2012 financial year - up 18.5 per cent on the previous year's revenue of $385 million.
In it's annual report Dicker stated the strong revenue growth was primarily driven by the improved logistics capacity that its new purpose built warehouse provided.
This was not available for the full period in the corresponding year.
The company relocated to the new facility in 2010.
It also stated that revenue growth could be attributed to growth in new vendors Asus, Buffalo and Lenovo for which a full 12 months was not reflected in the previous corresponding period.
The company also managed to increase market share with its existing vendors.
Profit before tax was $12.265 million, up 39.6 per cent on the previous year's $8.79m.
Net profit after tax amounted to $8.276m, an increase of 35 per cent on the previous year's $6.132m.
In his CEO commentary in the report, David Dicker said the results showed a very solid improvement from last year.
"The economic conditions have probably been more difficult but the tremendous performance by our employees and management team have allowed us to improve on the previous year. Despite the economic conditions the results are the best ever reported, reflecting consistent strong performance
Dicker noted the company was adding 5000sqm to its existing warehouse of 4000sqm.
He also took a shot at analysts: "However despite the results, we continue to struggle with the analyst community,"he said. "I am constantly told that our dividends are too high, we do not have índependent' directors and there are not enough shares with the public. Rather than discuss that with detail I will just say that our results speak loudly and I am very comfortable with our strategies.
"We expect to increase the public holding in DDR to 15 per cent this year."