75. Zones

Revenue: £62.3m

Zones (EMEA) Limited continued to navigate a tough post-pandemic landscape in FY2023, with global headcount reductions and macroeconomic pressures leading to a 32 per cent drop in UK sales to £62.3m and a gross profit dip of 37 per cent to £6.3m. Despite the downturn, the business managed to maintain gross margins just above 10 per cent, and is positioning itself for a return to growth.

The global IT reseller – part of US-based Zones LLC – has been steadily growing its footprint across EMEA. Its Netherlands-based entity (ZBS BV) became fully operational during the year, adding to existing operations in Ireland and Israel. The European arm is expected to become the group’s lead entity over the coming years.

Zones’ core business spans hardware, software, consumables, and services across datacentre, cloud, security and mobility. However, it remains exposed to key sector challenges including shrinking customer purchasing cycles, vendor disintermediation, industry consolidation, and a potential decline in vendor rebates. Management says it remains confident in the group’s ability to meet these challenges and steer the business back to profitability.

The board continues to emphasise stakeholder engagement as central to its long-term success, in line with its responsibilities under Section 172 of the Companies Act. That includes constructive dialogue with employees, suppliers, customers, and regulatory authorities, alongside a commitment to ethical business conduct and environmental responsibility.