Record year for C2000 as Lockie sets sail for the east
Distributors must embrace ecommerce, company says
Computer 2000 has reported surging profit and sales for UK activities, citing the Web as the way forward for the distribution sector. The US distribution giant saw pre-tax profit more than double, to over £11 million for the year ended 30 September, against £5.5 million the previous year. Sales topped £597 million from last year's £468 million. The results followed a record year for Computer 2000, with the UK one of the main contributors to its profits. Overall pre-tax profit stood at £54 million, from £3.6 billion turnover. The company, owned by US giant Tech Data, said strong growth areas in the UK were networking, storage, peripherals and components. Graeme Watt, managing director of Computer 2000, was "delighted" with the figures: "These numbers have been achieved in a period when market growth has been slowing, where the considerable downward pressure on margins has continued unabated -- we are quite clearly bucking market trends in UK distribution." Watt said growth had continued at 20 per cent for the year so far and that he believed the Internet and ecommerce were the most significant factors driving channel changes. Computer 2000 also announced Steve Lockie's exit from Computer 2000 UK to join its Dubai office as MD for the UAE operation. Lockie has been general manager for the networking division for two years. ®
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