Westcon-Comstor has achieved a record 14.9% year-on-year increase in H1 FY24 revenue, hitting $1.85bn.
This growth spanned across three main regions: Europe, Asia Pacific, and the Middle East and Africa.
The company's gross profit rose 33.4% to $203.7m, driven by stable foreign exchange rates, boosting gross margins to 11%. Meanwhile, EBITDA grew 15.9% to $59.7m.
Cybersecurity and networking generated 90% of this revenue, and a notable 17% growth was observed in their software and services sector, now comprising 45% of total revenue.
Since FY19, the firm has increased its borrowing capacity by 65%, providing $400m-$600m in reserves for upcoming ventures.
David Grant (pictured), CEO at Westcon-Comstor, said: "These results illustrate our ongoing ability to deliver solid, double-digit growth against a challenging macroeconomic backdrop, driven by our digital leadership within technology distribution and unique data-driven approach."
He added: "Looking ahead, our shift to software and services means we are ideally placed to thrive in the subscription-based, everything-as-a-service (XaaS) 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."
