Distributor Target Components has held up a 13 per cent turnover spike as evidence that its client base of independent retailers is thriving despite the downturn.
For its financial year to 31 March, the Yorkshire-based components and peripherals specialist saw turnover rise from £17.5m to £19.8m. Pre-tax profits rose 56 per cent to £700,000, making it Target's fifth straight year of 40 per cent-plus profit growth.
Target supplies smaller, independent retailers, resellers and e-tailers, and the firm claims that it now has about 2,500 active accounts.
Managing director Paul Cubbage said that his customers' monthly spend had been growing for several months, when compared year on year.
"Although consumer demand is sluggish and business demand is flat, the independents are more resilient and can offer more local support," he said.
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