Profit soars at Ingram Micro

Profit rose by 30 per cent at Ingram Micro for the third quarter ended 28 September.

The distribution giant recorded a profit of $26.9 million on worldwide turnover of $2.93 billion. This compares with $20.8 million profit for the same period last year. Turnover rose 33 per cent year-on-year from $2.33 billion in Q3 1995.

Ingram posted the results on 25 October in an amendment to its IPO document.

An Ingram Micro representative in the US said the company couldn't comment on the results until 26 November.

'We're still bound by law to keep quiet about this sort of thing - the enforced quiet period runs for 25 days after the flotation. Come the end of the month, we'll have people queuing up to talk about how things are going here,' she said.

Turnover for the first nine months was up 40 per cent to $8.47 billion, compared with $6.07 billion for the same time last year.

Profit was up 38 per cent to $77.6 million compared with $56.2 million for the first nine months of 1995.

Ingram US has added Taiwanese PC maker Acer to its list of manufacturers.

Under the deal Ingram will distribute the full range of Acer's products, including PCs, high-end servers and notebooks.