Synnex: Working hard in turbulent times

Synnex: Working hard in turbulent times

International distributor has a record quarter in a profitable year, despite economic conditions


Despite a difficult year, Synnex has emerged from the first three quarters of 2009 with double-digit growth.

According to its consolidated financial results for the three month ending on September 30 for Synnex Technology International (Taiwan, Hong Kong, China and Australia/ New Zealand) showed revenue of $2.2 billion, and a pre-tax income of $63 million.

The figure represents a record for Synnex and more than double the 2008 results for the same period. Although he could not disclose local figures, Synnex Australia CEO, Kee Ong, said the results reflected the distributor’s strong work ethic this year.

“It’s been tough this year, but we have been working quite hard,” Ong said. “Storage devices, gaming devices and consumables have been our solid products this year.”

Synnex invested $2.5m throughout the year, expanding its Melbourne headquarters and adding an additional 12 trucks to the logistics fleet. Its also plans to hire an additional 100 employees over the next five years.

While 2010 will be unpredictable, Ong said the distributor’s focus will be on working hard and pushing for broader opportunities.

“I don’t have a crystal ball – it’s a turbulent time,” he said. “I remain cautious, but positive we will be able to continue to make investments in 2010. We expect to hire additional staff, and continue to look at how business is being driven in the New Year.”

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