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Electrocomponents Issues Trading Update; On Track For Good Progress In FY19

Electrocomponents plc (ECM.L) said the Group is pleased with the performance in its first half and remains on track to deliver good progress for the fiscal year. The Group said the continued strong performance in Industrial led to 5 percent like-for-like Group revenue growth in both the second quarter and first half.

For first-half, Electrocomponents expects gross margin to be down year on year, by around 0.8 percentage points, impacted primarily by mix. For the second-half, the Group expects a more modest year-on-year decline as strong growth in OKdo will be partially offset by purchasing and pricing actions.

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