In spite of a failed acquisition which cost it #250,000, Compel's profit rose a storming 21 per cent on turnover up 22 per cent from last year.
Strong performance across all areas of its businesses was reflected in a turnover of #85.62 million and a pre-tax profit of #3.42 million.
Neville Davis, chairman and CEO of the company, said: 'It reflects Compel's growing stature as one of the leading companies in our sector.'
But the directors had considered buying another reseller, the company report disclosed, as revealed in PC Dealer, 5 June.
'The directors have been considering a significant acquisition of a company whose business is complementary to Compel's,' the report said. 'But the board decided, after 30 June, not to proceed and terminated discussions.'
The negotiations for the takeover cost u250,000 which will be included as an expense in the figures to the end of this year. Davis declined to comment on which firm was the target, and potential candidate Simmons Magee continued to deny it was up for sale.
One of Compel's claims to fame is that it bought a bit of Ingram Micro.
Last year it acquired Metrocom, Ingram's dealer arm, six months after it floated on the Stock Exchange.
The results indicate increase of business customers and big wins, said Compel.
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