Tech Data, the company which owns UK distributor Computer 2000, has announced its best European financials in 12 quarters.
Net profit landed at $50.2m for the fiscal fourth quarter, compared to $36.1m in the same period last year. Revenues increased to $6.5 billion – a 5.9 per cent year-on-year increase. Of this $6.5 billion, Europe accounted for $3.8 billion (58 per cent), according to CRN.
“Our market driven sales initiatives and improved inventory management processes, coupled with our efforts to enhance return on capital employed, drove strong results across our Americas and European operations throughout the year,” said Robert Dutkowsky, chief executive of Tech Data.
“While we’re pleased with our progress, we know there are opportunities for continued improvement on all fronts. As we proceed into fiscal 2009, the economic environment remains an important consideration, but we remain cautiously optimistic. We will continue to manage our business responsibly while making wise investments for long-term success.”