Synnex Australia Q1 sales up 15 percent

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Synnex Australia Q1 sales up 15 percent
Synnex Australia CEO Kee Ong

Synnex today reported a 15 percent jump in first quarter revenue for its Australian operations saying that it was on track to hit $1.5 billion for the full year.

The Taiwanese company reported consolidated net income of NT$1.4 billion ($A45 million) for the period, helped by a 5 percent increase in sales of IT products to NT$38.8 billion - more than half of total global revenues.

Sales of communications products rose 41 percent to NT$15 billion and contributed 20 percent of total sales. 

The best performing market for the company was China, with Australia ranking second in the Asia Pacific.

Synnex Australia chief executive officer Kee Ong said that the high Australian dollar created difficult conditions for the company but that recent investments in staff and IT systems was paying off.

“The investments we have made in our people, our systems and processes are paying off and I’m pleased to say we’re on track to hit our target of $A1.5 billion by the end of the year,” he said.

Ong added he expected mobility be one of the fastest growing sectors for the company over the next months.

“We are seeing a very strong uptake in mobile devices, notebooks tablets and smart phones.”

Synnex Australia affirmed that building of its $32 million automated warehouse facility in the Sydney suburb of Lidcombe would start next month, adding 100 jobs over two years.

A well as adding new staff in Sydney the company also expected to grow its head-count in Brisbane and Melbourne.

 

 

 

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