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SCH Group prepares for life after distribution
Banks double digit-hike in sales and profits for fiscal 2012
Channel giant Specialist Computer Holdings (SCH) has released a financial statement for fiscal 2012 showing double-digit gains in turnover and operating profits for the year ended 30 March.
This is the last set of full year results the group, which houses reseller-cum-integrator SCC and wholesaling biz Specialist Distribution Group (SDG), will post in its current form. SDG was sold to Tech Data in August for $350m.
Audited accounts show sales climbed 11 per cent on fiscal 2011 to £2.76bn including a 13 per cent hike in the UK to £1.13bn, a 15 per cent rise in the Netherlands, a rise of 29 per cent in Spain and a bump of 4.8 per cent in France.
The SDG companies being acquired by Tech Data turned over €1.4bn (£1.1bn) in the year, SCH revealed when it confirmed the sale of the distie division.
Operating profit jumped 82 per cent to £34.1m, albeit significantly lower than the £45.8m SCH reported in its prelims in May. Group profits after tax grew 102 per cent to £22.9m. No breakdown was yet available of where the profit was generated.
Assets on the balance sheet increased to £147.8m and positive net cash at year-end improved by £51m, the firm said.
SCH chief exec and chairman Sir Peter Rigby said the "set of results" were the group's "strongest performance" in its history and talked up the benefits of offloading SDG.
"Not only will the disposal of SDG allow the business to flourish as an organisation which shares a common vision, culture and value, but it will also enable us to invest fresh impetus in the evolution of the SCC brand," he said in a prepared PR blurb.
This will free up an unspecified amount of capital for SCC's "next phase of growth" the firm said. ®