Target profits up 56%

Yorkshire based distributor posts record results
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Target Components posted a 13 per cent hike in turnover for the year ending 31 March 2011, bringing the figure up to £19.8m, while pre-tax profits were up 56 per cent to £700k.

The firm says this is its fifth consecutive year of profit growth of at least 40%.

MD Paul Cubbage said: "Our success is reliant on the continued success of our customers, and our growth in the last couple of years demonstrates their ability to continue to thrive in a challenging environment."

"We like to think that we do more than most to help our customers, but we aim to do much more. Our open day in September is based principally around business support, and we will be introducing a number of other initiatives over the next few months. This year's primary focus is to improve the level of help and support that we provide. When the economy finally emerges from the flat conditions, we want all of our customers to emerge with us better and stronger than ever before."

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