Solid results for Arrow ECS post Distribution Central buy
Arrow ECS New Zealand has recorded solid results for the six months to 31 December.
The latest financials for the distributor, previously known as Distribution Central, show revenue from sales of good of $13.2 million for the six month period and profit before income tax of $634,927.
Profit after income tax was $456,523.
In the 12 months to 02 July 2016 the company logged revenue of $21.4 million, with profit after tax of $720,507.
The latest financials show Arrow ECS New Zealand’s net assets have been bolstered significantly in the past six months, jumping from $2.7 million last June to $3.2 million, with both total assets and total liabilities up.
The results cover Arrow ECS New Zealand as an individual entity. The company, which distributes primarily security, networking, storage and unified telecommunications systems, has moved from a 30 June reporting date to 31 December, resulting in the six month results.
Distribution Central was acquired by United States based distributor Arrow ECS in March 2016, creating a $500 million Australian and New Zealand distributor.
The deal provided Distribution Central with new scale and access to Arrow’s substantial global portfolio of vendors, which it previously hadn’t be able to handle because of the resources required to support them.
Integration of the two companies was completed last October.
The latest results show vendor rebates of $16,735 among the distributor’s current assets, along with prepayments of $125,499.