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Distributors Ingram Micro and Synnex report NZ numbers for 2019

Distributors Ingram Micro and Synnex report NZ numbers for 2019

Both distributors report improved profits over 2018

Credit: Ingram Micro

Ingram Micro NZ Holdings reported increased sales for the year ended 31 December 2019 while Synnex's revenue followed the opposite trajectory.

Ingram Micro's sales increased from $577.2 million in 2018 to $653.3 million while Synnex reported $159.5 million in sales, down from $178.9 million.

Ingram Micro NZ Holdings' 2018 results were restated due to a misclassification error, reducing both 2018 revenues and cost of sales by $65.4 million.

Ingram subsidiaries Tech Pacific Holdings, Ingram Micro NZ and Brightpoint are included in the numbers.

Both Ingram and Synnex managed to improve their bottom lines in 2019.

Ingram Micro NZ reported a net profit of $11.9 million, up from $8.3 million while Synnex NZ lifted its profit from $219,727 to $327,438.

Ingram Micro NZ Holdings' gross profit improved by just $1.8 million but the bottom line also benefited from lower costs in other categories, most notably finance.

Both companies have been asked for comment on the results.


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