Insight revenue up nine percent thanks to PCM

Insight saw sales grow nine percent in its third quarter, with the bulk of the cash coming from the recently acquired PCM business.

Revenue for the third quarter ending 30 September rose nine percent year on year to $1.9 billion while gross profit climbed 18 percent to $27 6million.

EMEA revenue was up three percent to $355.7 million.

The outfit bought PCM in August meaning it contributed to one month of the quarter.

Insight’s revenue grew $164.8 million in the third quarter, with PCM contributing $172 million.

Insight CEO Ken Lamneck said that the two companies were working well together.

“We are working diligently to integrate their business into ours to ensure we optimise execution in the market opportunity of the combined business and deliver our commitment to realise $70m in run-rate cost synergies by the end of 2021..

“To date, we have completed the organisational review of the combined senior leadership team, completed our planning efforts around a brand and finalised our timeline for e-commerce and core systems integration.

“We expect to complete the systems integration work by mid-2020. We are on track to deliver more than half of the expected cost synergies by the end of 2020.”