Arrow ECS Australia revenue surged in Nick Verykios' last year

By on
Arrow ECS Australia revenue surged in Nick Verykios' last year

Arrow ECS Australia won $634 million in revenue for the year ending 31 December 2018 - the last full year under the leadership of Nick Verykios.

The distie's revenue increased marginally from $626 million in 2017, while profit after tax jumped from $15.5 million to $18.4 million in 2018.

Arrow's local team was unable to comment specifically on the financial results, owing to its global parent company entering a quiet period as its quarterly results were announced last week.

Nevertheless, Arrow offered up some highlights from last year, including a raft of awards from its vendors.

Last year, Arrow won distributor of the year awards from HPE (after only two years as a partner ), Aruba, Sophos, Blackberry Cylance, Riverbed APJ (as well as an award for best marketing campaign) and Palo Alto Networks for global distie and APAC distie of the year.

“The investment we make in our people and their careers has been validated by several personal accolades for our staff in the past year as well,” an Arrow representative told CRN.

Arrow also launched its IoT go-to-market in Sydney late last year with an Innovation Hub pop-up, though the distie said to expect more to come from that later this year.

The distie announced on Friday that managing director Nick Verykios would step down after more than 11 years at the helm. Verykios co-founded Distribution Central, which was acquired by Arrow in 2016 and transitioned into Arrow ECS ANZ.

On a global level, Arrow reported US$7.16 billion in revenue for the first quarter of 2019, a four percent increase compared to 2018. Despite the growth, Arrow's shares dropped 10 percent to US$75.19 each.

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © CRN Australia. All rights reserved.
Tags:

Most Read Articles

You must be a registered member of CRN to post a comment.
| Register

Poll

Have you adopted agile methodologies?
Yes - And it made a big different improve productivity
Yes - But it's not made a big difference to productivity
No - But we're thinking of giving it a try
No – We’re happy with our current methods
No - Because it is a stupid idea and a fad
View poll archive

Log In

Username / Email:
Password:
  |  Forgot your password?