Beta Distribution, which offers cartridges and printers, is “on course” to make over £200 million ($244 million/€224 million) in revenue.
ChannelWeb reported that the company will see both its “European and technology solutions business” are “set to drive growth”, with Director Nigel Moss speaking to the news outlet about the growth. A filing on the UK’s Companies House database earlier this month showed that Beta reported £166.3 million ($203.4 million/€186.7 million) in revenue for the year ending in March, which was a “one percent increase” on the previous year.
However, halfway through this financial year, Morris has stated that Beta is “on course to break” the £200 million revenue “barrier” thanks to the technology solutions business’ “continued success”. The company’s “core business has traditionally been” in audio-visual, printers and toner cartridges, but it is “increasingly moving further into the technology market”.
Morris added that “some of the technology-based products – the Quantums, some of the disruptive technology brands – that area is growing enormously and we’ve got some more services going in there. We’re also beefing up our technology sales team in the areas of servicing MSPs and VARs – that’s another area where we’re strengthening”.
He also noted that “it’s about strengthening our business ready for the next stage but we still have our core business; things like inks and toners. We are still growing in that commodity area because that’s all about stock price, availability, good account management, and we’re very good at that”. Morris also claimed the company is “having success with emerging vendors” as although they do not have “the channel infrastructure” that other vendors might, they can offer products “of the same quality and functionality”.
This success in technology has been accentuated by the company’s European distribution arm seeing growth, with the business having operated in Europe “for two years” and just opened a new distribution centre in Holland, with plans to “open sales offices in key European regions”. Around £25.5 million ($31.1 million/€28.6 million) of the company’s total revenue last year came from this business as well.
Beta had “always planned” to move to Europe, but Morris outlined that the “opportunity came after the collapse of European distributor ACI”, with Beta three years ago “approached by some ex-employees of this firm” that believed “there was a market opportunity in Europe”, with the new business having “grown from there”.
He concluded: “There wasn’t a masterplan that we were going to open in Europe but now we’ve done it, we’ve done it properly and we’ve developed it. We do plan to a certain extent, but we’re quite a small business in some ways so we don’t have to go through committees and sign off, which is the reason we’ve grown so fast.”