Storit Ltd, the holding company for Mayo entrepreneur Frank Salmon’s CMS Distribution and Clever Stuff International, grew operating profit by 31% to £4.5m in 2015 as turnover advanced by 2.6% to £178.2m (€210m).

The profit increase was down to increased efficiency within the company, as administrative expenses were reduced by 9.2% through the year from £14m to £12.7m.

Established in Kiltimagh in 1988 by Salmon (pictured), CMS Distribution is a specialist distributor supplying business and consumer technologies, with a focus on storage products.

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The company is trade only, selling to B2B and B2C partners, servicing corporate resellers, managed service providers, high street and online retailers. These range from large multinationals to smaller, independent IT companies.

Most of CMS Distribution’s activity is in the UK, which is why the company reports its results in sterling. The company works with 3,000 resellers and 60 vendors, and is the number one storage components distributor in the UK for SanDisk, Crucial, Toshiba and Seagate for flash-based USB, SD, Micro SD, SSD and memory modules alongside internal and external disk-based storage.

“As the demand for storage capacity is increasing at a rapid pace, we are expecting a boost of interest for storage technologies like SSD, NAS and all-flash arrays,” said commercial director Nick Preston. “We are proud that our strategic consistency has made us the number one distributor of sub £4,000 storage array solutions.”

The company says it builds and ships 22,000 storage solutions every year and provides post sales first and second line support and services. CMS employs 215 people in London, Harrogate and Castleford in Britain, as well as in Kiltimagh in Mayo, where it all started.

Storit Ltd had a net worth of £21.8m in December 2015. Operating cashflow in 2015 was £4.7m and year-end cash amounted to £6.5m. According to auditors Grant Thornton, year-end liabilities amounted to £36.1m and debtors amounted to £38.7m.