20:20 sales up 16% to £992m

20:20 sales up 16% to £992m

20:20 has reported a 16% increase in sales to £991.6m for the full year ended 31 December 2009, fuelled by expansion into new markets.

The hardware distributor had expanded in Europe last year to include Germany, the Netherlands, Belgium, Italy, Portugal, and the Czech Republic.

Previously, it had only operated in the UK, Ireland, Sweden, Norway and France.

Meanwhile, pre-tax profits for the year to 31 December 2009 fell to £195,000, compared with £219.9m the previous year.

The company said the 2008 figure was inflated due to the fact that it benefited from a one-off payment of £300m in 2007/08, relating to Royal Bank of Scotland writing off loans in exchange for a 45% equity stake in the company.

Operating profit rose to £16.6m during the year, up from £15.5m one year earlier.

Company secretary Nicholas Smith said: ‘As part of the ongoing restructuring of the business that has followed its separation from Phones
4u in 2006, exceptional costs of £5.3m have been incurred relating to restructuring costs.’

Staff numbers fell by 176 to 1,271 during the period as it continued the integration of its old 20:20 Logistics, Dextra Solutions and Caudwell Logistics unit.

20:20 drafts in DSGi man

20:20 has announced the appointment of former DSGi marketer Chris Burrett as its new UK head of marketing.

Burrett, who has worked at DSGi, Virgin Mobile and Dell in senior marketing roles, will report into purchasing and marketing director Andrew Peat. He will be responsible for 20:20’s channel marketing strategy for handsets, accessories and content business.

Written by Mobile Today
Mobile Today


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