Arrow showed muscular top-line growth in the UK last year, in what the distribution giant characterised as an excellent set of results.
For the year to 31 December 2010, Arrow ECS UK grew revenue more than 25 per cent to £409m. Operating profit jumped 21.6 per cent to £10m, while net assets stood at £24.5m, 31.4 per cent more than 2009's figure.
"The directors consider the results for the year to have been excellent," said the directors report.
"The directors intend to grow Arrow ECS both through increasing revenues of the existing product portfolio and by the introduction of new vendor products."
During FY10 Arrow acquired Sphinx for an undisclosed sum, and the Nottingham-based VAD's trade transferred to Arrow ECS UK on 1 January. In its last available set of annual results, Sphinx turned over £55m.
During FY10 Arrow's UK staff numbers rose from 274 to 286. Half of the new recruits joined the distributor's 173-strong sales operation, while admin employee numbers rose from 74 to 80.
Pay packets in the Arrow boardroom were significantly downsized in FY10, with total directors' salaries falling from £1.475m in 2009 to £841,000 last year. However, company pension contributions for directors more or less doubled to £49,000. Arrow's highest-paid UK director earned £298,000 in 2010 – down from £554,000 the previous year.
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