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06 Feb 2008
Ambitious VAR Probrand has smashed through its £30m turnover predictions for its 2007 financials.
The privately-held Birmingham-based firm last year claimed it would double turnover to £30m within 18-months (CRN Online 16 March). However the firm this week reported a 79 per cent growth in turnover for its full-year 2007 results, posting over £33m turnover for the year. Profit was also up 27 per cent, the VAR claimed.
Its growth was attributed not only to its traditional resale business but also to its online commerce strategy.
Earlier this year, in partnership with sister company Mercato Business Solutions, the firm developed an online IT procurement tool - theitindex.co.uk - which searches over 500,000 line items to help customers get the best price and availability. The tool was later accredited by the Institute of Chartered Accountants (CRN, 18 June).
Peter Robbins, managing director of Probrand said: "We have delivered another great year of steady organic growth, which is particularly gratifying given the tough IT climate.
"Customers have shifted their approach to IT solutions and are now driving standards, demanding joined up services and robust electronic B2B portals tailored to contracted deals. We have invested heavily in growing our sales and product development teams and will continue to increase our knowledge base going forward, whether that be through acquisition or recruitment."
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