'Great people' help Ingram Q2
Distributor posts strong quarterly results
Broadline distributor Ingram Micro has reaffirmed its financial estimates for its second quarter ended 3 July.
Ingram said it expects to post turnover of between $5.6bn and $5.8bn, with profit between $21m and $25m.
Last week, Kent Foster, chief executive of Ingram, said the distributor had found it tough in Europe over the past 10 years, but had found itself in a leadership position in Europe as a result of "great people".
Ingram intends to grow its value-added services and wants to expand its share of the two-tier distribution business, Foster revealed.
"Two-tier is just one-fifth of the market, and modest expansion is available.
We are finding other vendors out there that can use our services and we believe enlargement of the (two-tier) pie is starting to occur," he added.
Alastair Edwards, senior analyst at Canalys, claimed Ingram is in a strong position.
"If a firm is really negative about something - in this case Europe - it gives it a low starting point and it is easier to announce improvements," he said.
"But there is lots of confidence in (European president) Hans Koppen among vendors, and partners seem optimistic about what he can do for the company."