More signs that the UK IT economy is continuing to grow came in the results released by two major distributors last week.

Broadliner Ingram Micro's results for its fourth quarter and fiscal year 2003, ended 3 January, showed worldwide turnover for the quarter standing at $6.76bn, an increase of 15 per cent, according to the distributor.

Net profit stood at $46.4m, compared with a net loss of $10.3m in the same quarter last year.

Kent Foster, chief executive of Ingram, said: "Europe delivered a record-breaking quarter, with sales, operating income and operating margins at all-time highs.

"Strong sales overall and great execution from our two largest regions drove a 53 per cent increase in worldwide operating income, boosting margin to its highest level in three years."

Northamber released an interim statement for the six months to December 2003 which reported pre-tax profits of £659,000, compared with a loss of £260,000 a year ago. Turnover stood at £115m for the period.

David Phillips, chairman of Northamber, said in a statement: "The board is confident, if understandably slightly cautious, of a satisfactory outcome for the current trading year as a whole."

sara_yirrell@vnu.co.uk