Tech company’s sales boosted by hybrid workforce.

 

Global IT products group Logitech has reported record sales in the fourth quarter, driven by a boom in video conferencing and hybrid workforce technology needs.

 

In the three months to 31 March 2021, sales grew by 108 per cent to $US1.54 billion year with full-year revenue up by 74 per cent to $US5.25 billion.

 

“Fiscal year 2021 was our best year ever,” Bracken Darrell, Logitech president and CEO, said. “It has been rewarding to see Logitech’s products play an essential role enabling work, creation, connection and entertainment as our homes became schools, offices and playgrounds. The world has just caught a glimpse of what Logitech will become.” 

 

Nate Olmstead, Logitech’s CFO, added: “The trends that fuelled our growth pre-pandemic - work from anywhere, video everywhere, esports and the democratisation of content creation - all accelerated. As our market opportunities have expanded, and we have become a larger, more profitable company, we’re investing in our capabilities to accelerate our innovation, reach new customers and deliver strong financial returns over the long-term.”

 

Logitech’s sales over the 12 month period were highlighted by: