Electrocomponents Plc full year earnings on track, sales growth strong



Electronics Components Supplier Electrocomponents Saw Robust Growth in Revenues

Electronics Components Supplier Electrocomponents Saw Robust Growth in Revenues

Strong sales growth in the UK and overseas markets will ensure that the company’s full year profits met expectations, said electronics parts supplier Electrocomponents Plc.

The company said that its sales for four months till end of January grew by 19 percent, with the North American business growing fastest among its international operations. Electrocomponents sales everything from IT books to safety equipments and batteries and cables.

The company had announced in November that strong growth in its online business in countries such as Hungary, Poland, the Czech Republic and China and better cost control has enabled the company to more than double its pre-tax profit in the First half of 2010.

In a statement issued on Friday, Chief Executive Ian mason said: “The strong performance reported in the first half of the financial year has continued into the second half”.

The company’s e-commerce revenue now contributes around 50 percent of its total revenue, up from 45 percent recorded a year earlier. The online business has grown about 31 percent in 2010.

Going by Thursday’s closing price, the company is valued at around £1.55 billion.

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