Westcon-Comstor outlook for fiscal 22 supported by strong first half results – PCR
In its first half FY22 results, Datatec Limited said that Westcon-Comstor (Westcon International) revenue grew 12.3% to US $ 1.4 billion (H1 of FY21: 1 , $ 2 billion in retired revenue), due to strong demand for networked cloud computing, remote access solutions for flexible work and virtual office environments, unified communications and enhanced cybersecurity.
Westcon International’s gross margins increased to 11.1% with higher margins in the Middle East, Africa and Asia-Pacific, while margins in Europe remained stable. Westcon International gross profit increased 15.8% to US $ 155.0 million, with results increasing in all regions.
âFollowing a strong FY21 which has demonstrated our resilience and tenacity in the face of unprecedented global adversity, the early outlook for FY22 is very healthy as the upward trend in revenues and profitability is expected to continue. Â»Commented David Grant, CEO of Westcon-Comstor. âThese incredible results are due to the hard work of our teams around the world. Over the past 12 months, we have implemented new business models to capitalize on the opportunities we currently see in the market, which have driven demand for all of the technologies we provide.
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Following increased demand, we are also seeing the dividends from our multi-year investments in advanced systems and business automation as we continue to experience double-digit growth despite global product supply constraints.