ANS Group has said it is actively eyeing acquisition targets to fuel the next stage of its growth after posting a sales and profit hike in its last fiscal year.
For the 12 months to 31 March, the Manchester VAR's profit before tax grew annually by 30 per cent to £4m on sales which rose eight per cent to £47.7m over the same period. Its contracted revenue was up by a quarter year on year, as was its adjusted EDITBA, which hit £5.3m.
The Cisco and NetApp partner said it expects another strong financial year and did not rule out an acquisition to boost its top line.
Paul Sweeney – who became chief executive during its last fiscal year to reflect founder Scott Fletcher's (pictured) move to the less operational role of chairman – said ANS was ready to pounce.
"I can't name [any potential targets] but we are looking for people who have managed-service-rich revenues and would give us access to more customers – those are the two things we look for," he told CRN. "We are looking at the marketplace at the moment and have our eye on a couple. We are in a position to execute."
Almost 90 per cent of ANS' gross profit comes from its managed services business, a segment the firm said it hopes to grow in the coming 12 months by expanding its presence within the legal, healthcare, public sector and healthcare markets.
Fletcher said his company's success last year proves investing in managed services was the right decision.
"This year's financial and operational results along with the shift towards managed services in our target markets confirm that we are heading in the right direction," he said.
"We are now focused on the next phase of growth and actively looking at acquisitions and recruitment of talent to build on our strengths across the business."
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