Ingram posts 'record' Q2 results

Broadline distributor Ingram Micro has hit the highest second-quarter results in its company history.

The distributor posted an eight per cent increase in turnover for the quarter ended 31 July, to $7.4bn compared to $6.8bn in the same period a year ago. Profit soared 29 per cent to £53.8m compared to $41.7m in 2005.

Greg Spierkel, chief executive of Ingram said: “We delivered a solid quarter, with double-digit sales and operating income increases in three of our four regions. The market environment in Europe was challenging during the quarter, as reported by many of our peers, but we were able to mitigate single-market obstacles through our diversified global footprint and expansion into adjacencies. We continue to execute well and invest in the needs of our customers, helping them expand their reach and develop new business opportunities."

Hans Koppen, president of Ingram Micro Europe, told CRN that it had experienced a number of financial pressures during the quarter.

"We did experience a more intense competitive environment due to pricing pressure and excess inventory in the channel," he said.

However, Koppen added that its third quarter would provide a mixed bag.

"Sequentially, we expect sales to be relatively flat, in line with seasonal norms. Looking ahead, we see opportunities for growth and profit improvement in every region," he said.

Further Reading:

Ingram targets mobility with EMAP programme

Ingram sees increase in turnover