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UK delivers for Ingram Micro

Simon Quicke

The performance of the UK, which delivered double digit growth, was one of the positives in an otherwise flat quarter at distributor Ingram Micro.

Across Europe sales were down by 7% but demand held up in both the UK and Germany, the US saw 2% growth and Latin America increased to the tune of 15% for the second quarter ended 30 June.

But overall the words the distributor applied to describe its own performance were "essentially flat" with worldwide sales of $8.78bn comparing to $8.75bn in the same period a year earlier.

Net income of $63.1m was up from $59.7m and could have potentially been higher if charges for the closure of Argentinean operations and other acquisition costs had not been a feature of the quarter.

"We had another solid quarter, with strong sales in many countries, particularly relative to overall IT spending," said Alain Monie, president and CEO at Ingram Micro.  

"We are executing on our strategic initiatives.  We continue to invest organically in the business across all regions to fuel future accelerated growth in higher margin markets and the business is absorbing these investments while still generating solid operating margins," he added.

Monie also referred to its mergers and acquisition strategy, which recently saw it move to pick mobile lifecycle services specialist BrightPoint.


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