As we know: "Dicker Data – the only Australian-owned distributor on the list – paid tax of $4.2 million in the 2014 year, on total income of $626.7 million and taxable income of $14.2 million."
However, it seems competitors' margins are either razor thin or non-existent: "Australia's biggest distie by revenue, Synnex, turned over $1.6 billion in its 2013 year but only had taxable income of $3.5 million, leading it to pay $1 million in tax.
Ingram Micro turned over $1.4 billion in its 2013 year but made a loss, so paid no tax.
Avnet Australia turned over $572 million, had taxable income of $4.1 million and paid $1.2 million in tax.
Westcon had a total income of $347.5 million, taxable income of $5 million and paid $1.5 million in tax."
Of course, those figures only show revenue, PBT and tax paid... no EBIT margins, so financial structures impact the end result. Also unable to see the one-off expenditures. Nevertheless, still quite interesting.
DDR Price at posting:
$1.60 Sentiment: Buy Disclosure: Held
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