Tech Data has seen its third quarter net sales increase 9.1 per cent on last year, rising from $5.4 billion to $5.9 billion, with operating profit has quadrupling from $9.6 million to $40.9 million.Net sales for Europe – following its recent restructuring – totalled $3 billion accounting for 51 per cent of worldwide sales – a rise of 7.9 per cent over the previous year.
Commenting on the figures, Robert Dutkowsky, chief executive officer of Tech Data, said: "Steady market conditions during the quarter, coupled with Tech Data’s sales execution, SMB focus, and product and inventory management efforts, drove record third-quarter net sales and a significant improvement in operating income year-over-year.
"Our Europe operations continue to strength and gain traction in the marketplace. While there is still work to do as we improve our execution and profitability, we are pleased to see our European operations performing at or ahead of our expectations and delivering stronger working capital metrics."
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