Double-digit sales and profit spike for Micro-P in FY12

Broadline distributor files impressive numbers as it focuses on further bottom-line expansion

Micro-P took its annual sales well past £600m in its 2012 fiscal year after posting double-digit sales and profit growth.

Accounts recently filed with Companies House reveal that, for the 12 months to 31 March 2012, revenue was up more than 16 per cent to £636.5m. Gross profit margin remained stable at 6.3 per cent, while operating profit grew 20.5 per cent to about £10.4m.

The vast majority of the Accrington-based firm's top-line expansion was fuelled by success in its homeland, with UK sales growing from £523.8m in FY11 to £611.2m last year. Revenue from foreign territories increased by about £1m to £25.3m.

Staff numbers rose from 478 to 527 over the course of the year. The number of people employed by Micro-P in selling and distribution roles was up from 302 to 393, but general administration staff ranks fell from 176 to 134.

The directors' report for the year outlines that "the key objective of the company is the maximisation of profit, in line with the objectives of the parent company DCC".

"The directors are pleased with [the FY12] performance achieved in tough market conditions," adds the report. "In the current financial year the company is focused on further profit growth through existing channels while broadening our product range and utilising the financial strength of our balance sheet to further improve our market position."