ASM hails record growth as it eyes £50m turnover target

Firm claims new location, new staff and new vendor deals are driving growth

Distributor ASM Technologies has hit the £28m turnover mark in a year of record growth.

In its last financial year, which ended on 31 March, the firm's sales grew 30 per cent annually to £28m, maintaining its three-year record of double-digit growth and keeping it on track to smash its £50m turnover target by 2017.

The firm puts its growth down to three main factors: the opening of its new London base, increasing investment in staff and signing new deals with vendors.

Earlier this week it signed up with Bose as the audio vendor looked to make a splash in the channel for the first time. During its last fiscal year, ASM also welcomed the likes of Sennheiser and BT Diamond IP to its vendor ranks.

ASM's director Iain Tomkinson said the firm will invest in more of the same as it works towards its 2017 goal.

"We're going to constantly invest in that infrastructure," he said. "We have a new [IT] system going in this year and new people joining in the next couple of weeks. We're constantly moving forward. Clients like what we do and appreciate the services we supply so it would be a shame not to get [to our goal]."

He added that its 51-strong workforce is set to grow by 10 per cent in the coming quarter.