Double-digit growth for £90m-plus Zycko in FY10

Distributor's turnover approaches nine-figure mark as global business increases

Growing fast: Zycko's turnover outside Europe shot up 75 per cent to more than £18m last year

Distributor Zycko increased sales in all parts of the world as it displayed profitable double-digit growth in its 2010 fiscal year.

For the year to 31 March, the Cirencester VAD grew sales by 13.5 per cent year on year to £92.5m, although pre-tax profit fell 18 per cent to £2.1m. The bottom-line decline is attributed to a business review that took place during the year, resulting in some business activities being moved to other group companies.

The shake-up allowed Zycko to reduce operational expense, but did have a slight impact on gross margin levels, according to the firm's directors' report for the year.

UK sales in FY10 were up three per cent annually to £42.1m, while revenue generated in the rest of Europe rose about six per cent to £31.5m. Sales across the rest of the world increased 75 per cent to £18.8m.

Average monthly employee numbers fell from 119 to 107 during the year. As of the end of March, Zycko has 40 management and administration staff, 46 in sales and marketing and 21 in logistics.

The directors' report predicts another successful year in FY11.

It said: "Despite the difficult economic conditions, the directors remain confident that another successful year will ensue, building on the past success of the company."