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Westcon-Comstor elevated by record FY23 results

Westcon-Comstor has reported a yearly revenue increase of 18.3% to $3.42bn for FY23, marking the second consecutive year of double-digit growth.

This increase, spurred by demand for cybersecurity and networking solutions, also marked the first time the company's revenue exceeded $3bn. 

The company is also shifting towards a software and subscription-based recurring revenue model, now comprising 42% of its revenue. 

Additionally, it posted a 21% YoY rise in adjusted EBITDA profit to $95.1m.

David Grant (pictured), CEO at Westcon-Comstor, said: "These results demonstrate our ability to thrive amid challenging macro-economic conditions.

“We have seen an industry-beating performance in cybersecurity and networking, while our growth in software and services underlines our shift to a subscription-based, recurring revenue XaaS future.”