The Compel Group has reported a leap in operating profit and turnover and said it will continue to expand by acquisition.
The VAR, system integrator and rental business revealed a 140 per cent rise in operating profits to £1.2m and a turnover of £63m, up by 20 per cent.
Paul Berry, group sales and marketing director at Compel, said: "We are continuing to execute the strategy we set out in 1999. We got a head-start over our rivals, driving towards higher-value services."
With a cash balance of £6.5m the group will continue to grow by acquisition, he added.
Kate Hanaghan, analyst at Ovum-Holway, said: "In the current year, we can probably expect more of the same from Compel. But Compel has to be realistic in facing the fact that it too could become an acquisition target."
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