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Dicker Data Cross $1B Revenue For H1Y20

ASX-listed tech hardware, software and cloud distributor, Dicker Data, has reported a 25% year-on-year lift in net profit before tax to around $40 million for H1Y20, and celebrated record revenue for June.

Revenue for the half-year jumped 18.3% YoY to cross over $1 billion, whilst the month of June notched a record month with revenue of $224 million.

The company is celebrating the highest revenue month in their over 40 year company history, with shares up more than 30% in the year.

It follows another record revenue month in March, with April sales also up 37% versus the previous year.

Shares climbed up 8.14% after midday to $7.57, with the company’s market cap sitting around $1.30 billion.

The company’s success has in part been contributed by a move to work-from-home and remote conditions prompt by the coronavirus pandemic, leading many organisations to order increased tech supplies for their staff.

Dicker Data distributes tech hardware from the likes of Dell, HP, Lenovo and Cisco, underpinned by many long-standing partnerships.

The news comes after the company raised over $50 million for expansion plans and increased liquidity to fuel “long term growth objectives.”

The funds were partly used to fuel the expansion of its new distribution centre and warehouse.

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