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24 Jul 2008
VAR Associated Network Solutions (ANS) has announced a 64 per cent increase in turnover for its financial year ended 31 March and has smashed through the £10m barrier for the first time.
The IT and telecoms VAR posted turnover for the year of £10.29m compared to £6.28m in 2007.
Pre-tax profit soared 120 per cent to £1.4m, compared to £600,000 in 2007.
Further reading
ANS, which completed both Cisco Silver Accreditation (March 2008) and Cisco Gold Accreditation (July 2008), acquired RSS Web Limited at the beginning of July this year.
September 2007 saw the reseller successfully float Smart Identity PLC on Plus Markets raising £750,000.
Chairman Scott Fletcher, said in a statement: "This is the seventh consecutive year that we have been able to report continued, solid and improved financial performance and are testament to the hard work and dedication everyone employed in the business as well as the results of certain key decisions taken by the board."
In a forward looking statement, he added: "The business has a clear growth strategy, to be realised through acquisitions and organic expansion. Given the level of the group’s cash reserves, and with valuations of businesses being depressed, we see the next 12-months as an ideal opportunity to investigate further acquisitions."
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