Storage distributor Ideal Hardware has increased its profitability for its last financial year to #9.6 million, an increase of 22.5 per cent over the previous year.
Turnover rose too by 25 per cent from #138.2 million to #172.7 million for the financial year to 3 May.
According to James Wickes, managing director of the company, the results mark Ideal?s tenth successive year of growth and profits and his company is poised to continue to grow as a combination of millennium problems, European Monetary Union, expansion in data storage peripherals market and the rise and rise of the Internet.
Wickes said: ?Although companies like Seagate have issued warnings about the industry, there are still good signs of growth. It, for example, announced last week that it was to increase production at its plant in Ireland. While the cost per megabyte and gigabyte is falling, the amount of storage capacity is increasing.?
He said that Ideal will increase its media efforts later this year. ?We really value giving information to our customers and our premium way was the IT network using satellites. We hope to have broadcast available by the Internet as well by the end of the year.?
If EMU takes off, Ideal is not alone in predicting a phenomenal growth in the storage market. EMC predicts a similar effect, largely because most financial institutions will have to keep a dual system for currencies.
Dust storm on Titan only the third Solar System body where such storms have been observed
New technique could enable quantum computers to scale-up to millions of qubits
Systrom and Krieger taking time off "to explore our curiosity and creativity"
Comcast's £29.7bn winning bid more than twice the £13.7bn Rupert Murdoch valued Sky at just eight years ago