Distie Target stretches growth streak to seven years

Components distributor has more than doubled sales since 2009 despite making no acquisitions

Yorkshire-based distributor Target Components has emphasised that its run of seven straight years of sales growth has come without recourse to acquisitions.

The components and peripherals specialist saw turnover for its year ending 31 March 2015 hike four per cent to £26.6m, meaning it has grown every year since 2008, when sales stood at £12.3m, and has had six successive years of record sales.

According to figures in its draft accounts it shared with us, pre-tax profits inched up fractionally from £642,000 to £643,000, year on year. Its net assets currently stand at just under £3m, a seven-fold increase on 2007, when the figure stood at £428,000.

Managing director Paul Cubbage (pictured) emphasised the growth has come without Castleford-based Target dipping into its pocket to buy rivals.

"We've more than doubled sales in the last six years, but we've done it steadily through consistent growth without acquisition or changing our core customer base," he said.

Cubbage said Target had invested heavily in services that help it advise and support its retail and reseller customers, such as its Sell More sales and marketing services and Shoptalk business advisory service.

"These figures suggest there is some merit in this approach," he added. "We know from feedback that it helps our customers and they appreciate it, but it's clearly working for us too."