Virtualisation drives iTX results

Official 31 December 2009 results show continued demand for IT in the financial crisis

Organisational spending on ICT during the global financial crisis has helped lift the half year results of distributor iTX (ASX:ITX).

In its official results half year to 31 December, released to the Australian Stock Exchange (ASX), the company recorded revenues of $81.7 million for the half, up 20.9 per cent from $67.5 million year-on-year.

Profit after tax and amortisation was $3.5 million, up 25 per cent from $2.8 million year-on-year.

In a January ASX release, the company’s managing director, Laurie Sellers, said revenue was buoyed by ongoing demand for software in its distribution business.

The market for virtualisation products had also been strong and was one of the fastest growth areas in IT, he said.

Sun hardware sales had also been strong, while the company’s hosting and managed services business, ICO, had begun its expansion into the Linux and Terminal Services market.

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