ASX-listed Dicker Data has ended its first quarter of 2023 with revenue and profit increases compared to the same period of time in 2022, despite supply chain and hiked interest rate headwinds.
For the first quarter of the year, Dicker Data earnt $772.3 million, an increase of 14.7 per cent over the $673.6 million it brought in for the March 2022 reportiing period.
Profit before tax was also up to $25.4 million, an increase of 6.7 per cent.
Dicker Data said that Australia contributed $623.9 million to the total, and it's New Zealand operations earnt $148.4 million.
It attributed the revenue increase to a full quarter contribution from its Hills acquisition, which was not included in the preceding reporting period.
Chairman and chief executive David Dicker called the result "pleasing" saying the distributor was buoyed by strong montly revenue in March.
Supply chain issues continue to dog the company, which has around $235 million in back orders.
Dicker Data also reported redundancy costs of $513,600 which it said were due to investments in automation, process improvements, and "the synergies enabled by shared core services such as logistics, finance, marketingg, IT and operations."
The distributor did not say how many people it had made redundant.
Vlad Mitnovetski said Dicker Data is entering the second quarter with a positive outlook.
He pointed to new vendors onboarded in the last six to twelve months that have begun to deliver on Dicker Data's expectations, and the pipeline for its existing vendor portfolio continuing to grow.
Mitnovetski added that the consolidation of the technology distribution market in Australia and New Zealand continues to create unique opportunities that Dicker Data is well-paced to maximise.
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