Target hitting profit mark

Fifth-straight year of profit growth for Yorkshire-based distributor

Distributor Target Compo­nents has held up a 13 per cent turnover spike as evidence that its client base of independent retailers is thri­ving despite the downturn.

For its financial year to 31 March, the Yorkshire-based components and peripherals specialist saw turnover rise from £17.5m to £19.8m. Pre-tax profits rose 56 per cent to £700,000, making it Target's fifth straight year of 40 per cent-plus profit growth.

Target supplies smaller, in­dependent retailers, resell­ers and e-tailers, and the firm claims that it now has about 2,500 active accounts.

Managing director Paul Cubbage said that his customers' monthly spend had been growing for several months, when compared year on year.

"Although consumer de­mand is sluggish and business demand is flat, the in­dependents are more re­silient and can offer more local support," he said.