After growing by a third, online reseller Expansys smashed through the £100m revenue barrier in FY12, despite a double-digit contraction in UK IT sales.
For the 12 months to the end of April, the Marlow-based firm saw group revenue rise 32.7 per cent to £108.5m. The company also returned to profitability during the year, after putting £1.9m on its operating bottom line, compared with a loss of £725,000 last time out.
Expansys UK saw external sales fall 27.3 per cent year on year to £12.5m, but Slough-based mobile distributor Data Select added more than £10m to its top line, with FY12 revenue reaching £23.1m. Mainland European sales through its Nomatica operation were up 15 per cent to £37.7m. The group's US and Asian revenue both nigh on doubled in FY12 to £18.4m and £14m respectively.
According to a statement from non-executive chairman Bob Wigley, Expansys' "UK business suffered significantly in FY12", which he attributed to factors including economic malaise and the pain caused by relocating large parts of the business to its Marlow HQ.
The UK operation posted a loss for the year, but Wigley claims that "trading since Christmas has been more encouraging and we expect a much improved performance in the UK business in FY13".
However, he asserts that "we will continue to concentrate resources and investment into regions we believe offer a more attractive landscape and return in the short term, such as the US and Asia".
Expansys, which counts Dragons' Den star Peter Jones (pictured) among its major shareholders, is also eyeing up its B2B segment during FY13, including the opening of an Asian operation.
"While not our primary focus, we do believe a growth opportunity exists for the B2B business through our aligned products and existing infrastructure," explained Wigley.
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