Tech Data's European divisions, including its UK arm, Computer 2000, have outperformed the US in its second fiscal quarter. European sales increased by 24 per cent, compared with a decline of over 10 per cent in the US.
The distributor's results for the quarter ended 31 July showed a turnover of $4.2bn, 4.6 per cent up on the $4bn posted in the same quarter last year.
Profit for the quarter was $17.2m, compared with $35.3m in the same period last year.
The results include a $2m charge related to the closure of Tech Data's US education business. Also included was a full quarter of operations from Azlan Group, which the company acquired earlier this year.
Steve Raymund, chairman of Tech Data, said the firm's main focus for the rest of the year was to improve results.
"We were encouraged by the improving market conditions we experienced in the Americas during the second half of the quarter," he said.
"We are focused on further improving operating results, although weak European economic conditions may impede our short-term potential. Despite the challenges, we remain well positioned, with an increasingly diversified portfolio of technology products."
Rachel Power, analyst at Canalys, said the results showed the distributor made the right decision to focus on costs.
"Tech Data has been very busy working on harmonising its systems, and from what Raymund said it seems the firm will continue focusing on costs in the future," she said.
"Margins are being squeezed out of the channel, and it has been a tough time for distribution. But those that focus on what they are best at will ultimately survive, and this is what Tech Data seems to be doing."
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