CMS Distribution’s holding company Storit, has announced its financial results for the year ending December 31st 2012.
CMS Distribution, a UK and Ireland-based distributor, specialises in storage and security products. It changed its name at the beginning of this year after a merger between CMS Peripherals and CCI Distribution.
In a statement, the firm commented: "We are very pleased with the performance of the group in 2012. Despite a challenging external market, we have grown our revenues by 45 per cent over 2011 and our profit before taxation by 49 per cent and look forward to more positive growth in 2013. Our net cash balance increased by €3.1m in the year as we continued to streamline our group working capital requirements.
"We continue to add customers, both in Ireland and the UK. This is driven by a wider portfolio of vendors combined with competitive pricing, flexibility, expertise and true valued added service. We work tirelessly to provide our customers with innovative and proven technology with good margin making opportunity and they reward us with their business."
The company believes the business will grow even stronger in 2013.
Frank Salmon, founder and Group MD commented: “We are really pleased with the results last year. We have implemented SAP as our group wide ERP platform and continue to invest in process improvement and our sales organization. We continue to invest in Sales, HR and Performance Management tools, these enable us to track our pipeline and ensure our people maintain the highest standards of performance in our industry. We continue to look for acquisition opportunities that help us to meet our Strategic goals.
"Our outlook for 2013 is positive after a solid start in the first three months, revenues and profits are in line with internal targets."