Target Components hits £40m revenue milestone

Distributor expects to reach in excess of £50m in 2021

Target Components has reached £40m in sales for calendar year 2020.

The milestone marks a third consecutive year of double-digit sales growth for Target, having previously hit £30m sales in calendar year 2019.

As well as hitting record sales, Target has already hit record profits for its fiscal year ending March 2021 with MD Paul Cubbage claiming that 2021 has started out strongly.

The distributor is expecting to hit another milestone in its next financial year, with sales forecast to come in excess of £50m for its fiscal 2021.

"It's testament both to the great team here at Target who maintained belief throughout all the changes we've made in recent years and to our loyal customer base who continue to support us in ever increasing numbers," said Cubbage.