OnLine growth slows, but sales still reach $55m
OnLine Distribution reveals revenue growth of 25% with revenues hitting $55m
Networking specialist OnLine Distribution has revealed that revenues for its latest fiscal year have climbed to $55m, representing a 25% increase on the previous twelve months. Confirmation of the top-line growth is expected to come from South African parent Datatec when it announces preliminary results to the market in mid-May.
Although OnLine's Middle East growth has slowed in comparison to the 32% rise it recorded the previous year, it is still thought to be ahead of the market average. However, the company hasn't given any indications of its profitability so it is not yet clear if it surpassed last year's EBITDA of $3m.
OnLine insists it is now working hard to develop its technology portfolio and provide more training for employees and channel partners. It also intends to mark its 15th anniversary in the region by introducing its reseller partner programme with increased focus in key countries such as Saudi Arabia.
"This year is extremely important for OnLine as it not only emphasises its longstanding establishment in the region's IT industry, but is also the year where a lot of business development activities and expansion plans are set to mature," claimed Venu Menon, sales and marketing director at Online.
OnLine recently announced that Steve Lockie, boss of its sister company Comstor Middle East, will oversee its strategy in the region after being appointed as managing director of Westcon Group Middle East, which incorporates both companies.