European acquisitions bolster Tech Data sales

Distributor maintains focus on 'profitable growth' in its fiscal Q3

Computer 2000 parent Tech Data’s European revenues leapt by almost a fifth in its latest quarter thanks to its recent acquisition run in the region.

The Nasdaq-listed firm hauled in a record $5.64bn (£3.53bn) in global sales in its fiscal third quarter to 31 October, a 9.2 per cent rise on last year despite unfavourable exchange rate fluctuations.

Global operating profit improved from $65.1m to $81m year-on-year and operating margin from 1.15 to 1.31 per cent, as the distributor underlined its focus on “profitable growth”.

Tech Data said demand in Europe was “solid” although local revenues were bolstered by five acquisitions made since the start of the year. Revenues from the region hit $3.69bn, up 8.9 per cent year-on-year or 18.9 per cent on a Euro basis.

Tech Data chief executive Robert Dutkowsky said: “Our year-to-date performance validates our strategy and is a testament to our team's relentless focus on profitable growth and excellent execution.”