Fast Track 100

The Mitek Group started trading in 1989 as a computer reseller but changed direction in 1992 when the present managing director, Malcolm Roach, and his son Mark joined the company. They decided to develop the computer components distribution side of the business, even though that market was more volatile and the Roaches had seen other firms go out of business. The focus on distribution has helped Mitek achieve sales growth of 75% a year, from £687,000 in 1996 to £3.7m in 1999. Paul Bishton, marketing manager, says the company has succeeded where others have failed because it has kept cashflow under control and has won distribution rights from high-quality component manufacturers. The Newcastle company recently set up sales offices in Exeter and Scotland’s central belt on a franchise basis. It has also obtained a £2m funding line through IBM UK Financial Services to underpin expansion.

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Company details
CompanyMitek Group
ActivityComputer component distributor
Annual sales rise over 3 years75.39%
Latest sales £000s3,707

If applicable:

* supplied by company † annualised figure