Rhipe hits $88 million revenue for the half-year, grows Azure and CSP operations

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Rhipe hits $88 million revenue for the half-year, grows Azure and CSP operations

Rhipe continues its trend of positive revenue growth for the first half of this financial year on the back of its investments in Microsoft Azure and expansion in operations across Southeast Asia and South Korea.

The software distributor posted 22 percent revenue growth to $88 million for the period starting 1 July 2017 to 31 December 2017, up from $72 million in the same period last year.

Microsoft CSP operations also grew to $13 million revenue in the period, up from the previous half-year’s $5 million, along with 186,000 CSP and Office 365 seats, up from 126,000 in the period ending 30 June 2017.

A large majority of the revenue was from licensing at $85 million, up 21 percent from the same period last year, with the rest coming from its Rhipe Solutions business.

The services and support business posted 37 percent revenue growth at $3.3 million and 14 percent gross profit to $2.6 million, following a restructuring in 2017, and the expansion of its technical support offering.

Profit was up 117 percent to $3.1 million, compared to the previous year's $1.44 million.

Rhipe invested $300,000 for its new operations in South Korea in early 2017 and signed its first customers there in the second quarter of the current financial year.

The distributor also looks to continue its expansion, evaluating new geographic markets and new vendor licensing relationships with a number of “smaller complementary software” vendors for possible bundled offers.

In November, Rhipe partnered with security software vendor Symantec to distribute its Endpoint Protection Cloud solution in Australia.

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