The UK was one of the quarter's success stories as Ingram Micro increased its profitability during Q3.
For the three months to 29 September, the distribution titan saw sales spike one per cent annually in dollar terms to $9.03bn (£5.6bn). But the effect of currency fluctuations hit the firm in the pocket, effectively wiping five percentage points off the growth figure. Operating profit jumped 8.5 per cent year on year to £92.65m.
Europe was the only region not to post sales growth during the quarter, with revenue falling 8.8 per cent to $2.4bn. But when measured in local currencies, sales actually rose one per cent. Ingram claims the big three western European countries of France, Germany and the UK all posted solid expansion during the quarter, with the continued softness in other countries hurting the growth rate.
Chief executive Alain Monie said: "It is clear that the macroeconomic environment and mid-term perspective are difficult. However, we executed well during the quarter, with every region growing revenue in local currencies. Our position as the world's largest technology distributor provides valuable differentiation, giving us the ability to execute on our financial objectives despite challenging conditions."
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