ChannelLife NZ - Synnex NZ 2011 profits up 831%

Warning: This story was published more than a year ago.

Synnex NZ 2011 profits up 831%

Things are seriously going well for Synnex's New Zealand operation. With profits after tax up 831% and revenue increasing by just over 22%.

The financial results for the technology distributor cover the period Jan to Dec 2011 and our commentary is comparing with the previous 2010 year.

- Revenue increased from $40.2 million to $49.4 million

- Profit's after tax increased from $86,536 to $806,137

- Cash on hand ended at just over $1 million

- Inventories are up 85% to $7.3 million

- Trade receivables are up 13% to $5.3 million

- These receivables average just 39 days

- Margin came in at 7.8% gross margin up from 6.6%

All in all a superb financial performance for the local operation of Synnex.

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