Strong PC demand fuels Tech Data growth in Q3

All but one European country saw strong annual growth

Soaring PC sales saw revenue and profits rocket at Tech Data in the third quarter.

For the three months to 31 October, net profit at the distie jumped 11 per cent year on year to $41.7m (£26.48m) on net sales which rose six per cent to $6.8bn over the same period.

The firm put the spike in the figures down to strong demand for PCs on both sides of the Atlantic.

Across Europe, net sales were up eight per cent annually to $4.1bn, but one country – which it did not name – let the side down.

"All but one of our European trade regions posted solid year-over-year growth with France, the Nordics, Iberia, Italy and Switzerland delivering double-digit sales improvement," said Tech Data's chief financial officer Jeffery Howells.

"At a product level, the European regions' growth was fuelled by continued strong demand for PCs and mobile products, offset by weaker demand for datacentre products."

PCs were popular in the Americas region as well, but sales of networking and storage kit was also strong, the firm said.

"At a country level, Canada delivered strong double-digit growth, posting its second-highest third-quarter sales in its history," said Howells.

"In the US, sales grew by low single digits as the team continued to focus on improving the mix of quality and revenues. From an end-markets perspective, in the US the education, federal and healthcare vertical sectors all posted strong double-digit growth."