Online reseller Buy It Direct homed in on the £100m sales mark in a stellar 2013 fiscal year after growing its top line by more than a third.
The Huddersfield-based firm, whose trading brands include Laptops Direct and Servers Direct, saw group turnover for the year to 31 March 2013 soar 33.9 per cent annually to more than £93.4m. Existing operations provided £90.55m, with the rest coming from acquisitions, which included e-tailer Furniture123. The UK provided the vast majority of sales - some £90.7m - with the rest of the world chipping in £2.7m.
Growth in operating profit was slightly behind that of the top line, after rising 14.9 per cent year on year to £521,795. A hefty increase in taxation saw the net profit figure go backwards to the tune of about £30,000, ultimately coming in at £348,556. The directors' report for the year characterises FY13 as a year of solid progress in an unyielding environment.
"Given the continuing tough economic climate in general over the past 12 months, and the market sector in which the business operates, the directors are satisfied with the performance of the business," says the report. "The company continues to look for new business opportunities in both its core market and affiliated sectors, and has continued to show its ability to integrate new businesses and product ranges through its acquisition of Furniture123."
Total shareholders' funds increased by more than £250,000 over the course of FY13, coming to rest at a year-end total of about £4.7m. Staff numbers were also on the up during the year, rising from an average of 144 to 161. Sales recruitment was more or less entirely responsible, with headcount in this area spiking from 77 to 95.
The company's strong performance last year comes in the wake of a decidedly trickier FY12, during which sales declined 8.6 per cent to £69.8m and operating profit was more than cut in half to £453,951.
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