Ingram Micro’s recent run of disappointing results has
continued after the world’s largest distributor reported
post-charge fourth-quarter losses of $10.3m (£6.8m) as sales
dropped 4.1 per cent to $5.8bn.
Ingram Micro European president Greg Spierkel attributed the
losses - which were in contrast to profits of $5.6bn for the same
period last year - to $39.5m of charges related to an ongoing
cost-cutting programme.
Spierkel was “pleased” with progress made by Ingram Micro UK,
saying the division had significantly improved margins over the
last six months.
Meanwhile, UK independent distributor Northamber saw shares dip
last week after reporting interim losses of £260,000, compared with
profits of £80,000 last year.
Turnover remained flat for the six-month period to 31 December
2002 at £119.3m, compared with £118.4m for the same period last
year.
Chairman David Philips attributed the losses to falls in “both
price and profit margin”, but pointed to “reasonable improvement”
in the group’s specialised units.