Insight posts Q2 growth across the board

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Insight posts Q2 growth across the board

Alex Scroxton

The growing importance of IT services to the channel's balance sheet has been once again laid bare by Insight, which saw 43% growth in its EMEA services business, compared to 14% in software and 7% in hardware during the second quarter of the firm's fiscal 2011.

Insight's EMEA op reported net sales of $402.9m (£246.3m), up 12% in dollar terms but flat when accounting for the impact of foreign currency fluctuations. Operating profit in the region was up 35% to $12.9m.

Insight said it booked severance and restructuring expenses of $2.3m in EMEA during the three months to the end of June.

Meanwhile, worldwide sales were up 16% to $1.47bn and net profit increased 31% to $35.3m.

CEO Ken Lamneck spoke of "favourable market conditions" and said the reseller remained "focused on growing sales faster than the market in 2011 while continuing to drive operational efficiencies throughout our business."

The firm said it had exceeded previous expectations during the period, and upped its full-year guidance accordingly.

 

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