Revenue rises 25% at CMS Peripherals
STORAGE:Revenue at CMS Peripherals rose by 25 per cent last year, despite ongoing challenges in the market.
The Mayo distributor of storage technology which has operations in Britain and Ireland, said turnover for the year was €112.9 million, compared with €90.2 million, with pretax profit rising to €1.8 million over the year.
The company has a three-year objective to reach annual turnover of €250 million.
Managing director of the group Frank Salmon said CMS was continuing to invest in its sales organisation and training as part of its bid to reach that goal.
CMS distributes business and consumer storage products, including hard drives, to resellers and large retailers. In August, it bought CCI Distribution Limited, a storage distributor based in north Yorkshire, CMS’s first acquisition.
It also developed the Disgo consumer electronics brand.
CMS said its customer numbers were growing in Ireland and Britain, and its outlook for the coming year was positive, following a solid start to 2012.
“Revenues and profits are significantly ahead of the same period last year in both the UK and Ireland,” the firm said in a statement.