Westcon-Comstor posts first-half revenue of $1.85bn

Westcon-Comstor saw a 15% year-on-year jump in H1 revenue posting a record US $1.85bn.

The distributor’s gross profits rose 33.4% to $203.7m, driven by stable foreign exchange rates. Gross margins increased to 11% and EBITDA grew by 15.9% to $59.7m.

Cybersecurity and networking accounted for 90% of the company’s revenue during the half-year period. The results also highlight its ongoing shift to software and services-based revenues, which saw a 17% increase and now account for 45% of total revenue.

CEO David Grant said: “Looking ahead, our shift to software and services means we are ideally placed to thrive in the subscription-based, everything-as-a-service platform economy of the future.

“By continuing to innovate and add value at a strategic level, we will enable our channel partners to unlock new opportunities as together we embark on the next wave of our digital transformation.”

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