Persona buying spree continues

The acquisitive distributor plans to absorb more companies to realise its pan-European ambitions

Persona Group has vowed to continue its buying spree after announcing its pre-tax profit had more than doubled.

In the year ending 31 December 1996, the networking distributor reported a group turnover, including its acquisitions, of #146.9 million ? an increase of 175 per cent. Turnover for its continued operations rose 42 per cent to #75.7 million.

Pre-tax profit for the group was up 143 per cent to #6.8 million, compared with #2.8 million last year.

Persona chairman Wayne Channon admitted that the distributor would continue with its plan to become a pan-European player and highlighted the countries where it was not represented.

?We are always evaluating the market,? said Channon. ?We need to strengthen the group?s position in Germany, Italy, Benelux and Scandinavia.?

?One of the key growth factors was the introduction of Persona?s networking and communications products into our continental European companies. Many of the continental European markets where we now operate are less mature compared with the UK market, although they are developing rapidly.?

Persona?s figures included an exceptional item of #436,000 after the distributor reorganised its operation following the acquisition of Unix specialist Toplog.

There was also a cost of #372,000 as a result of costs incurred at the end of last year for an acquisition that was scrapped.

The group has yet to rebrand itself ? an exercise that was expected to be concluded when it announced its figures last week. The distributor wants to operate under one name, but is unable to trade as Persona because the name is already trademarked in Germany, Spain and France.

Both Toplog and Persona?s sales teams have been retained: Persona staff are being trained to sell Toplog?s Unix products and those of the French company are being trained to sell networking products.

In November last year, Persona acquired French training firm Formalan SA. A month later it bought Swiss distributor Datawave.