Westcon-Comstor FY22 outlook buoyed by strong H1 results

In its FY22 H1 earnings, Datatec Limited reported Westcon-Comstor (Westcon International) revenue increased by 12.3% to US$1.4 billion (H1 FY21: US$1.2 billion restated revenue), as a result of strong demand for networked cloud computing, remote access solutions for flexible working and virtual office environments, unified communications and enhanced cybersecurity.

Westcon International’s gross margins increased to 11.1% with higher margins in Middle East and Africa and Asia-Pacific, while margins in Europe remained flat. Westcon International’s gross profit increased by 15.8% to US$155.0 million with higher results across all regions.

“Off the back of a strong FY21 that demonstrated our resiliency and tenacity in the face of unprecedented global adversity, the early outlook for FY22 is very healthy with the upward trend in revenue and profitability expected to continue.” commented David Grant, CEO of Westcon-Comstor. “These incredible results are due to the hard work of our teams globally. Over the past 12 months we’ve implemented new business models to capitalise on the opportunities we’re currently seeing in the market, which have driven demand for all the technologies we supply.

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Further to the increased demand, we’re also seeing the dividends of our multi-year investments into advanced systems and business automation as we continue to record double digit growth despite the global product supply constraints.”

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