Record results for Target Components

Annual accounts show sales of £19.8m for the year ending March 2011. The business reported pre-tax profits of £700,000, a rise of 56 per cent on the previous year.

Target said the results represent the fifth consecutive year of profit growth, despite the weakness of the general economy.

Employees benefited from the company’s 10 per cent profit bonus scheme, with each member of staff getting an equal share of £80,000 this year.

Target supplies to independent IT retailers and small to medium-sized resellers.

Paul Cubbage, the managing director, 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.”

Target will introduce new initiatives to help customers, he said.

He added: “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.”