Reading based reseller 8el has improved its Operating Profit by £0.5 million in the financial year 2010/11. In addition to posting a net profit for the financial year 2010/11, the business says it has successfully streamlined its cost of sales and carefully managed its overheads through this tough financial climate and is well positioned for the new financial year.
With increasing numbers of customers joining the 8el network and benefitting from its expanding range of services, the organisation is also looking to repeat this level of growth during the 2011/12 period.
As part of this growth process, the board has also made a strategic decision to complete the restructuring of its balance sheet to further strengthen its financial position. To achieve this, 8el has retained James and Cooper to assist them with this process.
Justin Hamilton-Martin, Managing Director at 8el stated: “Through reviewing existing supply, process review and efficient team work, the business has managed to move into a situation where it is fitter and more capable and is now in a better position to deliver best in class services to its customers and partners.”