Insight bullish despite Q2 loss

VAR sees group turnover drop by 26 per cent, but reveals intentions to 'compete aggressively' in Q3

Insight reported a profit drop by 26 per cent to $147.8m

Despite posting a 26 per cent drop in second quarter 2009 turnover, Insight has claimed it is well positioned to attack the second half of the year.

The global giant integrator saw group turnover drop to $1.04bn for the second quarter, but this represented a nine per cent increase compared to the first quarter of the year.

Profit also dropped by 26 per cent to $147.8m compared with Q2 2008.

On a regional basis the firm’s EMEA business posted net revenue of $281.2m for the second quarter, a 26 per cent decline, but up by four per cent sequentially. EMEA profit also dropped 26 per cent.

The US business saw turnover drop 25 per cent to $713.5m, but again up eight per cent sequentially.

Rich Fennessy, chief executive of Insight, said: “Overall we are pleased with our first-half operational performance in this challenging new demand environment. We believe we are well positioned going into the second half of the year to compete aggressively.”