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Tinglobal and Vickers set sights on services growth

Simon Quicke

Tinglobal is looking to build its services business and expand its operations as it looks to a fresh fiscal year with venture capital backing and the expertise of channel veteran Andy Vickers.

Vickers joined Tinglobal just as NVM Private equity took a stake in June with ambitions to grow the services side of operations which were described in the latest set of financial results as "established and gaining traction".

The majority of Tinglobal's revenue continues to come from its sales of refurbished networking and PC infrastructure but the services business stream would be a useful addition.

For the fiscal year ended 31 May 2011 revenue increased from £23.1m to £23.6m year-on-year with operating profit also improving by 22% to £1.7m.

David Gutteridge, chairman of Tinglobal, said the results validated its strategy: "We believe that our focus on our key customers and international markets will continue to deliver long term organic growth."

He said that Vickers would be in charge of growing the services business and despite the general gloom and doom that surrounded the economy at the moment it was optimistic about the next fiscal year.

"Notwithstanding the general economic conditions we have a robust business model with a focus on global trade and our strong client base. Our concentration on providing additional products and services to out key customers should ensure that the Group continues its profitable growth," he added.


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