Results on Target for component distributor

Yorkshire based distributor Target Components has announced record results for year ending 31st March 2011, with pretax profits of £700K, writes Linda Endersby. Turnover for the year was £19.8m, up 13%, and the pre tax profits showed a substantial increase of 56% from last years results

Yorkshire based distributor Target Components has announced record results for year ending 31st March 2011, with pretax profits of £700K, writes Linda Endersby.

Turnover for the year was £19.8m, up 13%, and the pre tax profits showed a substantial increase of 56% from last years results of £450k.

Employees will enjoy a 10% profit share bonus with £80,000 being shared equally, compared to £50,000 last year.

Paul Cubbage, MD of Target, which works primarily with independent retailers and small to medium sized retailers, said the results showed a continued resilience of the independent sector.

"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," he said.

"We like to think that we do more than most to help our customers, but we aim to do much more," he added "This year's primary focus is to improve the level of help and support that we provide."

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