Wick Hill invests in growth in successful FY10

Sales and profit increase by almost a fifth during impressive year for security and comms VAD

It was a very good year: Wick Hill's sales grew 19.6 per cent to £37.2m in FY10

Wick Hill enjoyed double-digit sales and profit growth in its 2010 fiscal year and claims continued investment in services will ensure more of the same this year.

For the year to 31 March, the security and comms distributor grew group revenue by 19.6 per cent year on year to £37.2m. The Woking-based VAD, which also operates in Germany, saw operating profits rise by 16.8 per cent to £683,000.

Headcount was also on the up last year, with sales, marketing and technical staff numbers rising from 62 to 69. The firm's number of administration and finance employees increased from 14 to 17.

The directors' report for the year calls the sales hike and the protection of margins "a tremendous achievement" in the current economic climate. The success is chalked up to an increased investment in value-add services, and Wick Hill is planning for another bumper year in FY11.

"For the coming year, despite difficult trading conditions in [Germany and the UK], we are continuing our investment for growth and we are anticipating double-digit revenue growth," said the report.