Tech Data posts sales and profit hike

Tech Data has posted solid increased sales and profits across all regions for the third quarter ended 31 October. 

Group net sales were $9.3bn, an increase of 11% compared to the same quarter last year.

In the Americas, net sales were $4.1bn (44% of worldwide net sales), an increase of 13%. In Europe, net sales were $4.9bn (53% of worldwide net sales), an increase of 9%.

In Americas operating profit was $112.4m, compared to $55.6m the previous year. In Europe operating profit reached $39.9m, compared to $29.9m last time.

Included in Americas operating income is a $25m benefit from the collection of a previously reserved accounts receivable, accounting for part of the big difference between Americas and Europe income. 

Total net income was $114.2m, well above the $37.3m last year. Rich Hume, Tech Data chief executive officer, said: "Our teams delivered a strong Q3 performance with great execution across our three regions (including Asia Pacific)."

For the fourth quarter ending 31 January 2019 the company anticipates worldwide net sales to be in the range of $10.5bn and $10.9bn.

Hume was made CEO in June, taking over from Bob Dutkowsky. 

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