Electronic components distributor Premier Farnell Plc (PFL.L), in its interim management
statement for the period Feb. 4 to May 16, said its group sales rose 5.7 percent sequentially, as its main MDD divisions delivered sales growth. The group said the trends its fourth quarter continued into the first quarter, with sales per day returning to year on year growth of 2.8%
The group noted that year on year sales decline at MDD Americas moderated, improving by 8.7 percentage points from the prior quarter as a result of the actions taken to enhance its performance, despite ongoing weakness in its end markets.
Excluding sales of Raspberry Pi, Group sales declined 0.6 percent year on year compared to the fourth quarter year on year decline of 6.4 percent.
Laurence Bain, Group Chief Executive Officer, said in a statement, "We are pleased that our actions to enhance our proposition and drive sales have enabled the Group to return to positive growth in the first quarter. However, current market conditions remain challenging with indicators still weak in all our global markets."
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