Distributor Westcon Group NZ has increased revenue for the second year in a row and moved from a loss to a profit in the year ended 28 February.
Revenue lifted from $184.5 million in 2018 to $211.9 million while net profit after tax moved from a loss of $1.4 million to a profit of $1.6 million.
That profit improvement came despite a 2.4 million increase in employee expenses, to $12.6 million from $10.2 million.
Other expenses were lower by $2.6 million and changes to the value of finished goods turned favourably to the tune of $4.8 million.
Westcon NZ managing director Dave Rosenberg declined to comment on the results as the company's ultimate parent, Datatec, is publicly listed in South Africa.
Westcon Group NZ's results are the latest in a flurry of distributor reports dropping over the last month.
Dicker Data suffered after losing its Cisco distributorship but stayed in profit.
The company reported sales of $90.2 million on 2018, down 36 per cent from $140.7 million in 2017. Net profit after tax was slashed from $2.6 million to $546,302.
Ingram Micro, which also lost its Cisco distributorship fared better.
Its reported sales fell from $661.3 million in 2017 to $642.7 million for the year ended 31 December 2018 but only because of a change in accounting standards between the two years.
Like for like sales in 2018 were $681.7 million, up $20.4 million.
Gross profit went up from $65.3 million to $72.9 million while net profit was reported as $8.3 million, up from a loss in 2017 of $17.1 million.
Westcon Group NZ retained its Cisco distributorship throughout those changes and was later joined in that by Spark-owned Telegistics.