Europe was the star performer for distribution juggernaut Tech Data as it topped expectations for its fiscal second quarter.
The US-based behemoth logged sales of $6.45bn (£3.91bn) for the three months to 31 July, up 18 per cent year on year, or nine per cent allowing for currency headwinds.
Europe was the blue-eyed boy as sales from this side of the pond surged by 30 per cent year on year, or 14 per cent in euros. The region now represents 58 per cent of the global total.
Stripping out acquisitions, European sales still rose six per cent in local currencies, with the UK, Germany, Denmark and Norway growing double digits.
Sales in the Americas rose a more muted four per cent to $2.70bn.
Tech Data's second-quarter operating profit rose by 20 per cent to $78.8m, topping analysts' expectations and pushing up operating margin from 1.20 to 1.22 per cent year on year.
Chief executive Robert Dutkowsky (pictured) said he expected Tech Data to hit mid-single-digit organic sales growth in both regions, in local currencies, in its fiscal Q3.
He said: "In spite of global macro-economic uncertainty and volatile markets, our strategic focus on execution, diversification and innovation, together with our resilient business model, enabled Tech Data to grow sales, achieve double-digit earnings growth, generate strong operating cash flow and earn an excellent return on invested capital of 15 per cent."
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