Crn21 1200 300.jpeg

Westcon enjoys stellar FY11 in Europe

UK sales up more than 12 per cent for comms and networking distie

Distributor Westcon enjoyed stellar growth across Europe in its 2011 fiscal year, including a double-digit top-line bump in the UK.

For the year to the end of February, Westcon Group European Operations posted sales of €958.3m (£842.3m), a more than 17 per cent increase on 2010. Gross profit margins rose from 8.1 to 9.6 per cent, while operating profit was up 28.8 per cent to just over €16.5m. UK turnover in FY11 rose 12.4 per cent to €372.7m.

During the year, Westcon's European staff numbers rose from 609 to 780. Net assets, meanwhile, rose 18.5 per cent over the course of the year. The distributor's shareholders ended the year with £113.8m in the bank.

The directors' report for the year said: "The group is cautiously optimistic and is planning for growth in the majority of the markets in which we operate. In addition, the group is looking to execute various strategic growth initiatives. The group will continue to leverage our global inventory, global logistics and cross-border capabilities and continue to develop and grow our relationships with our strategic vendors."