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Storit Limited (Holding Company of CMS Distribution) announces results for the year ended 31st December, 2017


Revenue Growth of 38% driving Revenue over €500m for the first time

London, UK and Kiltimagh, Ireland – 10th May 2018 – Storit Limited, the holding company of CMS Distribution, a leading specialist distributor supplying business and consumer technologies today announced its results for the year ended December 31st, 2017.

Financials :
CMS Distribution are very pleased with the performance of the group in 2017. Group Turnover increased by 38% over 2016 to £447m (€510m), while EBITDA has increased by 40% to £17.3m.

Operational Highlights :
2017 was another record year for CMS Distribution. “In February ‘17, we were delighted to welcome TNS Connect into the Group. The TNS team are experts in emerging consumer technologies with an impressive portfolio of vendors and customers stretching worldwide. This acquisition has allowed CMS to expand into the Asia Pacific region as we continue our global growth trajectory,” said Frank Salmon, founder and CEO of Storit. He continued, “The TNS business was integrated into CMS in June as part of our ongoing strategy of bringing companies together to leverage strengths and synergies. We are very excited about the potential this acquisition brings and its impact on the Group Financials”.

Further investments in 2017 included the opening of new offices in Paris, Madrid and Amsterdam, and a relocation to a new office in Stockholm. There has been significant expansion of CMS’s Centre of Excellence in Kiltimagh, Ireland to support all sites globally with first-class service.

Outlook for 2018 :
Commenting on the results and on the future, Frank Salmon concluded: “We are delighted with both our record financial performance and our many investments in 2017, which we are confident will drive sustained value as we continue to roll out our successful model across new geographies. I am very excited about the future and the year ahead. 2018 marks another significant milestone in CMS’s history as we celebrate our 30th anniversary with more exciting projects and investments set to roll-out throughout the year.

Summary Financial Information :

2017 2016
£000’s £000’s
Turnover 446,788 324,548
Gross Profit 41,560 29,352
Profit before Tax 13,755 10,049
EBITDA 17,300 12,344
EBITDA Margin 3.90% 3.80%

About Storit Ltd :
Storit Limited was established in 2001 and is the holding company of CMS Distribution.

About CMS Distribution Ltd :
CMS Distribution connects the best technologies to the smartest customers.
We empower remarkable people to exceed our customers’ expectations through the continual pursuit of service excellence and the delivery of the most innovative technologies.

Our 350 people help our customers grow their business from twelve locations in the UK, Ireland, Netherlands, Sweden, Spain, France, Australia and China.

For more info about CMS visit: www.cmsdistribution.com 
Email Tom Burke, CFO at: tom.burke@cmsdistribution.com
Or Frank Salmon, CEO at frank.salmon@cmsdistribution.com

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