Distributor Tech Data, which is in the process of being acquired by VC Apollo, saw a slight decline in 2019 sales as growth in the US and Asa markets failed to offset a setback in Europe, but it managed to lift margins in Europe slightly.
Q4 2020 wihch ended on31 January 2020 saw net sales of $10.38bn, down 1% overall on Q4 2019. Q4 income was $218m, up 31%.
Worldwide net sales in 2019 were $37bn, a decrease of 1 percent compared to the prior year. On a constant currency basis, net sales increased 2%. Americas net sales were $16.6bn, Europe net sales were $19.1bn, Asia Pacific net sales were $1.3bn.
“Our fourth quarter capped a momentous year for Tech Data,” said Rich Hume, chief executive officer. “For the fiscal year 2020, we delivered a strong financial performance while making strategic progress and continuing to deliver higher value to our channel partners, colleagues and shareholders. We ended the year by reaching our biggest milestone yet—the agreement to be acquired by Apollo.”
“We look forward to completing the transaction and working with the Apollo team to accelerate investments in our business.”
