The Dicker Data Ltd (ASX: DDR) share price is on the rise today.
Shares in the S&P/ASX 300 Index (ASX: XKO) wholesale computer hardware and software distributor closed yesterday trading for $8.41 each. In morning trade on Wednesday, the company's shares are swapping hands for $8.54 apiece, up 1.55%.
For some context, the ASX 300 is up 0.68% at this same time.
This comes following the release of Dicker Data's half-year results for the six months ending 30 June (H1 2023).
Here are the highlights.
Dicker Data share price rises on sales growth
- Statutory revenue of $1.11 billion, up 5.3% from H1 2022
- Gross sales of $1.6 billion, up 9.4% year on year
- Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $71 million, up 15.4% year on year
- Net profit before tax of $54 million, up 7.8% from H1 2022
What else happened during the year?
Other financial metrics that could impact the Dicker Data share price today include a 17.7% year-on-year increase in gross profit (excluding other revenue), which came in at $151 million. The company achieved statutory gross profit margin for the half year of 13.6%.
Operating costs were also up by 23.3%, or $16 million, over the six months. That was primarily driven by higher salary costs with the full half-year effect of the company's Hills acquisition.
Riding the increase in net profits, basic earnings per share (EPS) grew by 5.1% from H1 2022 to 20.86 cents.
And net cash generated from operating activities increased by $1.8 million to $36.6 million compared to H1 2022.
What did management say?
Commenting on the results that look to be boosting the Dicker Data share price today, CEO David Dicker said:
We performed well in the first half of 2023. Gross sales are up over 9%, despite a challenging market where traditionally strong segments, such as devices, went into decline. Our team continues to outperform the market and we are well-positioned for the remainder of our FY23.
Dicker Data's CFO Mary Stojcevski added:
Profitability in our first half improved by over 7% and inventory holdings decreased as the supply chain disruptions of recent years abated. The company's net debt position remained flat despite continued growth and small increase in net working capital investment.
And Dicker Data's COO Vlad Mitnovetski noted, "As the technologies we represent become increasingly complex and interconnected, our role as the technical and sales enablers for our partners continues to grow."
Dicker Data share price snapshot
With today's intraday lift factored in, the Dicker Data share price is up 3% over the past six months. Shares are down 17% year to date.
