Dicker Data is seeking to raise $50 million in equity, as shares went into a trading halt this morning, ahead of the equity raising.

Barrenjoey is acting on behalf of the leading distributor, seeking buyers at $10.30 a share, roughly a 10 per cent discount to yesterday’s $11.48 close.

Funds raised will be used to expand the company’s Kurnell warehouse, and bolster its working capital and balance sheet.

Dicker Data’s half-year results were also released today, but didn’t throw up any surprises, given the company had already released its revenue, operating profits and EBITDA last month.

Dicker Data saw a 36.5 per cent jump in revenue, to $1.45 billion for the half-year ending June 30.

This increase was helped along by Dicker’s recent purchase of Exeed, which added $192 million in revenue to the bottom line. In addition, two months of revenue, accounting for $18 million, was included from Dicker Data’s Access and Surveillance business, which was established following the acquisition of Hills security and IT division.

Operating profit before tax was $51 million, up 11 per cent, while EBITDA of $61.2 million, was up 19.5 percent year over year.

Net profit rose 7 per cent, to $34.3 million.

Hardware and virtual services sales for the six months were up 35 per cent, to $1.08 billion. Software sales totalled $365.5 million (up 41 per cent), while services revenue reached $6.5 million, up 34 per cent.

“We continue to perform above expectations, despite the headwinds caused by supply-chain and logistical disruptions,” chairman and CEO David Dicker said this morning.

“It is pleasing to see our recent acquisitions translating into positive results for our shareholders and I am confident that the benefit to our shareholders will continue to grow as we further bed down the operations and as these new divisions leverage the scale of the wider business.

“Demand remains strong across the company’s product portfolio and the appetite of the local economies for technology products shows no signs of slowing.

“Advanced solutions, such as infrastructure, networking, security and software have returned to high levels of growth as business confidence also edges higher.

“Demand for end-user computing and devices has normalised, however the company’s Professional AV division continues to grow above expectation.”

This fund raising round is expected to add 70 per cent extra warehousing capacity in Kurnell.

It will inject new blood into the company’s share register.

Founder David Dicker, and his co-founder and ex-wife Fiona Brown own around 65 per cent of Dicker Data shares between them.