Sales rise at Widget

Consumer electronics distributor Widget Uk Ltd has posted its results to March 31st 2015, showing a 129 per cent increase in sales, as well as a rise in net profit.

MD David Elder said the company has had a year of "outstanding growth", with wearable technology and smartwatch products growing the most. 

“We have a strong portfolio of wearable technology products, and our retail customers are achieving great sell through with them, both in the UK and across Northern Europe," he said. "The year is shaping up well and we’ll be adding some interesting and innovative new products to our range.”

The company says it has made progress in diversifying its customer base, within the UK and in the rest of Europe, highlighting the regions of Benelux and Scandinavia.

"Sales to Argos, Shop Direct and John Lewis Partnership have risen substantially to balance the traditional major UK customers Amazon and Dixons Carphone," Widget said in a statement. 

Widget’s Dutch subsidiary Now Mobile BV has also reported profitable growth, with sales rising from €1.08 million in 2013/2014 to €3.01 million in the 12 months to March 31st 2015.

Last December, Widget extended its reach into Scandinavia by acquiring a minority stake in Swedish tech distributor Newgen Distribution AB.

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