Electrocomponents PLC
14 March 2002
Embargoed until 7.00am
14 March 2002
Electrocomponents plc
Trading Update
Ahead of forthcoming meetings with investors and analysts we are updating the
market on recent trading.
The Board anticipates that our profit before tax and goodwill amortisation for
the year ended 31 March 2002 will be around £105m.
Since we announced our interim results in November, our markets have continued
to be depressed. In December and January, extended shutdowns of our customers'
businesses, particularly in the United Kingdom and continental Europe, reduced
our sales. Our overall daily sales rate has, however, now recovered to the
levels of last autumn.
We have continued to manage our gross margin and cost base effectively, and our
cash flow is strong. We have also maintained our investments in the strategic
development of the Group.
All our businesses remain ready to benefit from any upturn and we continue to
have full confidence in our long-term growth opportunities.
The full results for the current year will be announced on 29 May 2002.
Contact:
Ian Mason Group Chief Executive 01865 204000
Jeff Hewitt Deputy Chairman / Finance Director 01865 204000
This information is provided by RNS
The company news service from the London Stock Exchange
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