Dicker Data's shares reach new high after only a month

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Dicker Data's shares reach new high after only a month

Dicker Data has chalked up another bumper quarter, adding another $67.3 million in the first three months of 2019.

Revenue rose 21.1 percent in Dicker's first quarter of the 2019 financial year to reach $386.9 million, compared to $319.6 million in the same quarter last year.

Profit before also saw a nice boost, up 46.7 percent to $13.5 million for the quarter. The distie noted that profit growth was tracking ahead of revenue great thanks to costs as a percentage of sales falling.

The company attributed its results to a strong performance across all of its vendor partnerships and "realising full value for new vendors". Dicker also told shareholders it would continue investing heavily in additional headcount and productivity measures to support growth.

Dicker Data's share price reached an all-time high of $4.51 each last month, but that's already been beaten today after the quarterly results were released. Since ASX trading opened this morning, Dicker's share price has shot up 8.35 percent to $4.67 each at the time of writing.

"With our Q1 achievement tracking ahead of our forecasted number for the quarter, we are confident that our full year result will be achieved and re-iterate full year pre-tax profit guidance of $51.4 million for FY19," the company wrote in a market update to shareholders.

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