Dicker Data has enjoyed a massive revenue spike for the first three months of the year, partly due to contributions from its Exeed acquisition.

Revenue for the March quarter sat at $673.6 million, up by $225.9 million, and representing an increase of 50.5 per cent.

Of this, $90.3 million came from the Exeed business across Australia and New Zealand, which includes popular brands such as Ecovacs, Ring, Kaiser Baas, and Withings, while existing and new vendor additions delivered $135.5 million, “driven by increased demand for virtual capabilities and accelerated digital transformation of businesses.”

The revenue split between Australia and New Zealand was $534.9m and $138.6m respectively.

Net profit (before tax) was $23.8 million, up 22.7 per cent year-on-year. Operating expenses increased by 17.5 per cent, equalling 4.4 per cent of revenue, which is down from 5.6 per cent, year on year.

“The Company’s performance in Q1 was outstanding, with revenue growing by more than 50% and profit before tax growing at over 22% year on year,” said David Dicker, Chairman and CEO, calling this “a result that is testament to the great people in our business.”

“Our two recent acquisitions are almost fully integrated into the business and I’m confident that we have the foundations in place to continue delivering the growth our shareholders have come to expect.

“Despite only moving into our new headquarters last year, more than doubling our warehouse capacity at the time, I’m pleased to report that we are already in the advanced planning stages for the expansion of the warehouse in Kurnell which will support the expected growth in the coming years.”