IT distributor Dicker Data has just clocked up $1 billion in half-year revenue for the first time in its 42 year history. This represents an 18.3% increase on the same period last year and a 23% increase in before tax profit to $40 million.
CEO, David Dicker, says tailwinds from the increase in people working from home were the primary drivers of the increase. He adds that he is definitely on the acquisition trail.
"The problem is they've got to be acquisitions that you really want. We've got two or three investigations [of potential targets] under way at the moment but you've got to find the right targets and the right deals and that takes time."
David said the only real way to grow vendors is by acquisitions outside of Australia.
"You're not going to do it organically outside of [Australia]. It's just not going to be possible. If we were in the US market and you went to to smaller markets you might be able to lean on the vendor but we certainly aren't in that position, so we've got to do it on the acquisition mode."
DDR Price at posting:
$7.34 Sentiment: Hold Disclosure: Held
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