Dicker Data has released its interim financial report for the first half of 2024.
Despite facing challenging market conditions, the technology distributor reported overall gross sales of $1.59 billion, a slight decrease of 0.4% year-on-year.
Founder, Chairman, and CEO, David Dicker, commented, "We have continued to perform despite the market conditions, delivering an increase in year-on-year gross sales in the second quarter of 8.3%. This is the strongest sign of market conditions improving to date, and I’m confident the company is well-positioned to capitalise on this momentum in the second half."
Statutory revenue for the half year stood at $1.08 billion, marking a 2.1% drop from the previous year.
The company's EBITDA reached $68.9 million, down by 2.4%, while its net profit after tax was $35.4 million, a 5.7% decrease.
Vlad Mitnovetski, executive director and COO, emphasised the company’s growth in the AI sector.
"Our position as the number one Australian and New Zealand distributor of Microsoft Copilot demonstrates our leadership in the artificial intelligence arena, as does our status as the only end-to-end NVIDIA distributor for the ANZ region," said Mitnovetski.
Executive Director and CFO, Mary Stojcevski, stated, "We've continued to invest ahead of the curve in key market areas. The company is well-positioned as we move into the second half, with strong inventory balances. We continue to leverage strategic offerings from our vendors to improve profitability."
Dicker Data is a locally owned and operated distributor of information and communications technology hardware, software, cloud and Internet of things solutions.