Storit, the holding company of CMS Distribution, announces a record fiscal 2016 with revenue increasing by 82% over 2015 to £325 million. Profits are up by 126%, reaching £12.3m.
"Our Enterprise business continued to outpace the market, driving strong growth in security, information management, storage and open source technologies, along with our Retail channels, which also delivered high growth," CEO Frank Salmon says. "As our customers continue to deliver innovation around digital transformation, the business portfolio continues to drive change and open doors to new thriving markets.”
The year saw the company acquire Widgets Investments and emerging technologies and accessory distributor TNS Connect, as well as a majority stake in Swedish distributor Newgen Distribution. As for this year, Storit hopes to "continue to invest in systems and customer opportunities that will drive growth and sustained value into the future.”