Target boosts turnover by 35%

Distributor Target Components increased turnover by 35 per cent for the year ending March 31st, bringing the figure up to £17.5 million, with £500K profit.

Ten per cent of the profit went to staff as part of a share scheme.

The firm says the growth is continuing into the new financial year, with Q1 (up to June 30) up 25 per cent and Q2 up 36 per cent to date.

 “We’ve increased staff numbers by over 40% during the year, which is obviously good for the local economy," said managing director Paul Cubbage. "We share 10% of pre-tax profits equally between all employees, so it’s good news for our staff. We retain all of the profits within the business, giving us greater scope to invest in development and to keep improving, so it’s also good news for our customers.”

“Our customers are primarily independent retailers and small to medium resellers, and whilst our customer numbers are up, we’ve also seen a very healthy growth in customer spend. I believe the last couple of years have seen a resurgence of independent retailers with local expertise and the ability to offer a more personal customer service approach. We couldn’t have achieved the level of growth without the strength of our customers.”