Australia's Dicker Data hits seven-week high on robust results

Dicker Data

31/10/2022 02:29

** Shares of Dicker Data  DDR.AX  advance as much as 4.3% to
A$11.000, hitting their highest since Sept 6 
    ** The computer parts distributor posts revenue of A$2.24
bln ($1.44 bln) for nine months ended Sept 30, up about 30% from
prior corresponding period, due to a surge in demand for
existing business, among others  urn:newsml:reuters.com:*:nTUE5ZLTBZ
    ** Also records a earnings before interest, tax,
depreciation and amortisation of A$92 mln, rising about 9% from
the previous year
    ** Warns profitability impacted by costs associated with
rising interest rates, freight costs, among others  
    ** Sees outlook for Q422 buoyant, with demand across
technologies represented remaining strong 
    ** Stock sees best day since Oct 24, gains for a sixth
consecutive session
    ** Stock down about 29% this year, as of last close
($1 = 1.5591 Australian dollars)
($1 = 1.5596 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))