ChannelLife NZ - Revenue down, but gross profit up for Westcon-Comstor APAC business

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Revenue down, but gross profit up for Westcon-Comstor APAC business

Westcon-Comstor’s Asia Pacific business has recorded a $17 million drop in revenue for the first half of this financial year, but managed a $1.6 million increase in gross profit regionally.

The latest results show Westcon-Comstor’s Asia Pacific business logging revenue of $241 million for the first half, down from $258 million for the same period last year.

Gross profit increased from $30 million to $31 million.

Parent company Datatec says the revenue decrease was due to lower China sales.

Westcon-Comstor overall recorded a $23 million increase in revenue globally, hitting $2.3 billion, with gross profit tumbling $21 million to $216 million.

Those results include Westcon North America and Latin America which have now been sold to Synnex.

The Westcon-Comstor results saw Datatec reporting expected half year consolidated revenue of $2.99 billion.

“The year over year decline in earnings is primarily as a result of a worse performance in the group’s Westcon subsidiary,” the South African company says.

“Westcon-Comstor continued to experience disruption to the business as a result of the final SAP implementation in Europe, Middle East and Africa.”

Logicalis revenue dropped from $757 million to $694 million with flat gross profit of $175 million.

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