Plus   Neg

Electrocomponents 4-month Like-for-like Revenue Up 6% - Quick Facts

Electrocomponents plc (ECM.L) reported that in the four months to 31 January 2019, Group like-for-like revenue growth was 6%.

The company noted that its January like-for-like revenue growth was above the average for the four-month period, after December was impacted by the timing of holidays.

All three regions - EMEA, the Americas and Asia Pacific - saw positive revenue trends. Within EMEA, the company's emerging markets operations, representing 4% of EMEA revenue, was impacted by lower Raspberry Pi sales.

RS Pro, the company's own-brand range, continued to outperform the Group growth rate with 10% like-for-like growth. Digital revenue saw 8% like-for-like revenue growth.

Looking ahead, Electrocomponents continues to expect stable gross margin in its base business for the full year to 31 March 2019.

The company also said it is on track to deliver 4 million pounds of savings this financial year from the second phase of the Performance Improvement Plan, with cumulative annualised savings of 12 million pounds by March 2021.

Lindsley Ruth, CEO of Electrocomponents, said, "Despite ongoing macro-economic uncertainty, we have seen a good first four months of the second half of the year with 6% like-for-like revenue growth. We continue to have a significant market opportunity and are confident in our ability to drive share gains irrespective of the market backdrop."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Whole Foods Market stores have recalled Decorated Red Apple Cookies as they may contain undeclared egg. People who have an allergy or severe sensitivity to these allergens run the risk of serious or life-threatening allergic reaction if they consume these products. The cookies were sold by the... Norwex has announced voluntary recall of about 58,000 rubber brooms due to laceration hazard. According to the company, handles of the recalled brooms can break in half, exposing a metal inner rim, posing a laceration hazard to the user. The recall involves extendable indoor/outdoor white rubber... Amazon.com Inc. has expanded its AmazonFresh grocery delivery service to three new cities. Beginning today, Amazon Prime members in Houston, Minneapolis and Phoenix can shop thousands of products, ranging from meat and seafood to fresh produce and everyday essentials. The groceries will be delivered to their homes in two hours or less, with options for one-hour and two-hour delivery.
Follow RTT