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UK delivers double digit revenue growth for CDW

It has been a good Q3 and a decent first nine months of the year for CDW's operations in the UK

The UK delivered double-digit growth in the third quarter for CDW making a major contribution to a strong set of financials for the channel player.

For the three months to 30 September the US firm, which operates in the UK and Canada, saw its sales increase by 11.2% to $4.3m from $3.9m. Net income improved by 42% from $129.3m to $183.7m.

Corporate sales increased by 9.9%, SME revenues improved by 11.3% and the public segment delivered a 10.7% improvement year on year in Q3.

The performance of CDW UK is combined as 'other' along with Canada with both territories improving in revenue terms by 18.5%.

The bulk of that growth came from here, with the UK improving by double digits, with Canada just enjoying single digit improvements. For the first nine months this year the combined countries have delivered $1.422m in tevenues, a 27.6% climb on 2017.

"We had another strong quarter of profitable topline growth while continuing to invest in the future and deliver shareholder value," said Thomas E. Richards, chairman and chief executive officer of CDW.

"These results reinforce the strength of our strategy and power of our business model - underpinned by our balance across customer end markets, the breadth of our products and solution portfolio and the ongoing execution of our strategy for growth," he added.

The firm has benefited from a lower tax rate in the US and has been actively repurchasing shares putting it in a strong position as it goes into the final stretch of 2018.

"We continue to expect to exceed our annual target to outpace US IT market growth by 200 to 300 basis points in 2018. To accomplish this, we will continue our laser-focus on meeting the needs of our more than 250,000 customers in the United States, the United Kingdom and Canada and remaining the partner of choice for more than 1,000 leading and emerging technology brands as the technology market continues to evolve," added Richards.

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