Arrow ECS ANZ revenue and profit falls for second year
- 03 June, 2021 10:25
Distributor Arrow has seen its revenue and profit fall for another consecutive year in Australia and across its New Zealand and Singapore subsidiaries.
For the period ended 31 December 2020, the company, officially known as Arrow ECS ANZ, posted A$276 million in revenue, an eight per cent fall from 2019's A$300 million.
Profit after tax fell by three per cent, from A$12.4 million in 2019 to A$12 million in 2020, although the fall was a softer one to 2018-2019's dip of 30 per cent.
Documents filed with the Australian corporate regulator reveal Arrow paid A$5.6 million in income tax last year, A$200,000 more than in 2019.
Employee benefits expense rose by A$300,000, from A$20.6 million to A$20.9 million, while office expenses fell by more than A$1 million, reaching A$3.1 million.
Although registered in Australia, the Arrow ECS ANZ business also includes subsidiary businesses in New Zealand, Singapore and Malaysia, which are incorporated into the 2020 figures.
The results come as Arrow’s new general manager of Enterprise Computing Solutions for Australia and New Zealand (A/NZ), Karl Sice, assumes his new role.
Sice replaced Andrew Assad who exited the distributor in February. Recently the distributor also announced the addition of Puppet to its A/NZ portfolio.
When contacted about the results, Arrow directed ARN to its global first-quarter 2021 earnings transcript.