Interim Management Statement

RNS Number : 6578A

Electrocomponents PLC

04 February 2011

 



Electrocomponents plc, the leading international high service distributor, has today issued its second half interim management statement for the year ending 31 March 2011 which covers the period from 1 October 2010 to 31 January 2011.

STRONG SALES GROWTH CONTINUES

During the four months to 31 January 2011 the Group has continued to record strong sales growth of around 19%.  The International business grew by around 23% and the UK by around 11%.  Within the International business, Europe sales grew by around 22%, North America by around 30% and Asia Pacific by around 15%. 

Our electronics offer was our strongest performing category benefitting from the introduction of a further 15,000 new products.  eCommerce revenue grew by around 31% and now represents 50% of Group sales, up from 45% a year ago.

The Group's gross margin has been in line with the first half and we continue to deliver operating cost leverage.  The Group has a strong balance sheet and there has been no significant change in the Group's financial position during the period.

We are pleased with progress since the half year end and anticipate that headline profit before tax for the year ending 31 March 2011 will be in line with our expectations.

Ian Mason, Group Chief Executive, commented:

"I am pleased that the strong performance reported in the first half of the financial year has continued into the second half.  This is reflected in the Group's 19% sales growth and 31% eCommerce growth during the last four months with strong performances across all regions.

We are implementing our strategy at pace with eCommerce reaching 50% of Group revenues for the first time and DesignSpark, our leading online electronics design resource, attracting more than 270,000 visitors since its launch in July."

Enquiries:

Ian Mason                              Group Chief Executive                          01865 204000

Simon Boddie                        Group Finance Director                        01865 204000

John Sunnucks/                     Tulchan Communications                     020 73534200

David Allchurch

Notes:

All revenue growth rates are adjusted for trading days and foreign exchange rate movements.

There will be a telephone conference call today at 08.00h for analysts and investors with replay access to Friday 11 February 2011.  Dial in instructions are set out below.

Electrocomponents plc - Conference Call Dial in Instructions
Date:	Friday 4 February 2011
UK Time:	From 07:50h for 08:00h call
Telephone number:	[phone]
Conference ID:	38383490
Chairman:	Ian Mason
Electrocomponents plc - Replay Dial in Instructions (available until Friday 11 February 2011)
Replay Telephone number:	[phone]
Conference Access Number:	38383490#

 

END

 

 

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