Trams crashes through £20m sales barrier
Apple and HP reseller stays on track despite economy
London-based reseller Trams breached the £20m sales barrier for the first time in its calendar 2011, a filing at Companies House shows.
The Apple Authorised Reseller and HP Gold Specialist grew turnover 13.7 per cent year-on-year to £21.7m, including £217,600 from export sales.
As a result of the top-line spike, operating profit for the 12 months ended 31 December went up by nearly 40 per cent on the year before to £627,000.
In a director's report accompanying the results, the firm said it was "pleased to report another profitable year for the group, despite difficult trading conditions".
Net cash flow from operating activities was £926,000 compared to an outflow of £389,650, it had £659,700 cash in the bank and net debt fell to £1.5m from £1.94m.
The staff headcount fell by four to 25, but wages, salaries and social costs increased to £1.25m from £1.13m.
Trams, which was founded in 1990 by Hugo Kirby and Wendy Howland-Jones, was sold to the management team including directors Warren Peel and Alex Page in 2003.
Earlier this year Trams swallowed the UK operation of Cancom AG for an undisclosed sum to widen its reach in the education and corporate biz markets through its Enterprise Solutions wing. ®