Bell Microsystems has said its increased headcount and investment in consultancy will put it back on track for growth after it made a loss in its most recent financial year.
According to a recent directors' report filed with Companies House, the Portsmouth-based VAR's overall turnover was down 6.69 per cent annually to £47.45m for the year ending 30 September 2013.
In 2012 it made a profit of £531,523 but last year it turned into a loss of £194,967.
The UK part of the business turned over £15.45m last year – down 6.3 per cent year on year – while Europe and the rest of the world saw sales drop by 6.6 per cent and 8.5 per cent respectively to £27.35m and £4.66m.
In the report, the firm said the results were "satisfactory" and laid out its plans for future growth.
"The directors continue to be ambitious in maintaining the group and the company's positions in a very competitive market," the report said.
"The workforce has been increased considerably due to the company's investment in supporting both a global-sourcing model and a growing consultancy services business. It is anticipated this will lead to the company's future growth targets."
Back in March, CRN reported that Bell's financial director Trevor Bishop left the firm and was replaced by former 2e2 CFO Manpreet Gill.
According to the company's report, a month later two other directors – Neill Pratt and John Davenport – also resigned.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business