We're currently facing a state of uncertainty and confusion in the UK, thanks to the arrival of Brexit and our separation from the EU. Recently, we've begun to see how changes to the European and UK relationship may be having an impact on our future as a country in terms of connectivity solutions and telecommunications distributions.
Towards the end of February 2017, new numbers were released that indicate Exclusive Networks growth levels in the UK have been cut in half by fluctuations in currency over the last year. Expansions have been cut from 28% to 14%, but the CEO, Olivier Breittmayer claims that the firm has now seen the worst of the Brexit changes.
The Latest Figures for Exclusive Networks
The distributer (headquartered in Paris), reported full-year revenues at a growth of 51% year-on-year to around £1.08bn. That takes them up from around £725m last year. Though Exclusive aren't currently publishing their profit figures, the CEO claimed that profitability has been in line with expectations. Like-for-like organic sales growth for 2016 stood at around 22%, which Breittmayer suggested was a key achievement. He noted that sales in Southern Europe, Spain, France, and Italy were particularly strong last year, while the UK was good in terms of sterling.
In the Nordic region, there was a turnover rise of 41% annually, while DACH and Beneulx regions saw growth in excess of 20%. UK growth in local currency stood at around 28%, but the figure was cut in half when you translate it to Euros.
