Insight Enterprises, the parent company of Choice Peripherals and Plusnet Technologies, has posted a substantial increase in sales for its first quarter ended 31 March.
The US mail-order giant recorded a 64 per cent hike in sales to just over dollars 338 million and a 57 per cent climb in profit to dollars 6.8 million. The company's global internet sales also soared, with an increase of 285 per cent, to represent 8.2 per cent of total sales.
The latest figures revealed that Insight's acquisition spree has paid dividends, as in the corresponding quarter for 1998, the company was only based in the US. For this quarter, the figures showed that sales from the US were 88 per cent and 12 per cent came from Western Europe.
Insight president Timothy Crown said: 'The integration of Insight's business model and our information systems in Europe has gone very well and we're encouraged by the growth we've seen in our UK and German subsidiaries to date.'
However, margin erosion was as much a problem for Insight as the rest of the industry with a like-for-like fall from 12.3 per cent to 11.8 per cent.
Crown added: 'The decrease in gross profit percentage in the company's first quarter was due primarily to pricing strategies and market conditions.'
Insight purchased Choice Peripherals in April 1998. Its acquisition spree is set to continue in the UK with speculation that Action Computer Supplies is in talks with the US giant.
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