| Tue 16 Oct 2001, 0:00 | | Mb Technologies Limited - Tarsus Technologies' Con |
|
Tarsus Technologies' Continued Strong Growth Now Assured
MB Technologies' value-add distribution company, Tarsus Technologies, is now
assured of continuing its strong growth of the past year, in view of the
announcement by Siltek today.
Guy Whitcroft, managing director of Tarsus, says, "Tarsus has continued to
perform well in tough trading conditions that have culminated in the
provisional liquidation of Siltek.
Whitcroft said that Tarsus finds itself in a stronger position than ever
following the liquidation this week of long-term competitor, Siltek.
"Clearly, Tarsus is now going to be faced with many immediate opportunities
- however, we will continue to be selective in terms of our growth with the
usual keen focus on profitability".
"One of the chief problems highlighted by the collapse of Siltek", says
Whitcroft, "has been the vendor terms and conditions which have made the
environment extremely challenging, but we are confident these issues will be
addressed".
In the year ended August 2001, Tarsus, which distributes many of the world's
top brands including Compaq, HP and IBM, produced above-average earnings
growth coupled with a significant increase in its net margins.
Whitcroft attributes the company's strong performance to tight controls,
increased economies of scale and continuing improvement in operating margin.
During the period, Tarsus reduced debtors days from 52 to 38 days, and stock
days from 22 to 18 days.
Whitcroft added, "Over the years, Tarsus has built an enviable reputation as
the country's most admired value-add distributor, borne out by a string of
awards, and is committed to the success of its business partners. In line
with this, we are announcing extended trading hours from today - 07h30 to
18h00 - to assist our channel partners to continue operating to their full
potential".
JSE-listed global technology group MB Technologies maintained its track
record by increasing its headline earnings more than 39 percent to 16,3c a
share, for the year to August. Its earnings growth in the harsh conditions
of last year exceeded the long-term growth record of 37% per annum since
listing in 1998.
Issued by MB Technologies. For further information:
MB Technologies:
Ron Keschner
011 259 9500
Tarsus:
Guy Whitcroft
011 531 1000
