Target hits the mark

Target Components’ MD Paul Cubbage has praised the resilience of the independent sector after posting record results.

The Yorkshire-based distributor is enjoying its fifth consecutive year of profit growth. Sales are up 52 percent from 2009 and net profit up over 380 percent in the same period.

Meanwhile, turnover is up 13 percent to £19.8m for the firm, which primarily supplies independent IT retailers and small to medium-sized resellers. Pre-tax profits are up 56 percent to £700,000 – smashing last year’s results of £17.5m and £450k respectively.
 
 Says Cubbage: “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.”
 
Cubbage believes that demand in the economy will remain flat for the foreseeable future, but sees it as the company’s responsibility to ensure its customers continue to succeed. “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,” he says.

Target’s employees benefit from a 10 percent profit share bonus, with each employee getting an equal share of £80,000 this year, up from £50,000 last year.