Reseller XMA hailed the "strength and adaptability" of its business in 2012 as turnover grew more than five per cent and gross margins held steady.
Annual accounts filed this week reveal that, for the 2012 calendar year, revenue was up 5.11 per cent on an annual basis to almost £122m. Gross margins remained at about 12 per cent, but operating profit declined by about a sixth and stood at £2.55m.
The vast majority of sales were generated in its home country, but revenue from the rest of the world –almost exclusively garnered from the EU – grew from £1.6m in 2011 to £2.14m last time out.
The Nottingham VAR's net assets grew from £11.25m to £11.78m over the course of the year. A dividend of £1.5m was paid at year end, the same amount as in the prior year. Average monthly sales staff numbers remained at 85 in 2012, while the admin employee ranks dropped from 171 to 158.
The directors' report for the year reveals that on 1 July 2012 the company "acquired the remaining 50 per cent of [the] trade and assets... of XMA Print Solutions Ltd". It adds that being able to maintain gross margin levels last year speaks to "both the strength and adaptability of the company".
"The directors remain convinced that XMA's position is firmly established in this marketplace and continue to remain confident that XMA's presence across the breadth of the public sector and growing engagement in the corporate sector across a variety of technologies and related services will ensure success over the medium to longer term," adds the report.
The FY12 results mark a return to growth for the firm, following a 2011 in which public sector cutbacks saw turnover decline from £140.5m to £116m.
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