Electrocomponents PLC
27 September 2006
Embargoed until 7.00am 27 September 2006
Electrocomponents plc - Trading Update
Electrocomponents plc, the major international high-service distributor of
electronic, electrical and industrial supplies, is today giving a trading update
ahead of its results for the 6 months ended 30 September 2006.
Revenue during this half year has grown at around 9% (adjusted for exchange
rates and trading days). Within this International sales have grown at around
15% and UK sales have grown at around 1%.
Gross margin has declined slightly since the second half of the last financial
year but the majority of this impact is caused by the change in geographic mix
principally as a result of the strong growth of our North American business.
Group profit before tax and reorganisation costs for the 6 months ending 30
September 2006 is expected to be in line with last year despite there being
fewer trading days, due largely to the different timing of Easter. Adjusting
for this impact, estimated at £4m, the profit growth in the period is expected
to be in excess of 10%.
The roll out of the Enterprise Business System to the rest of Europe is on
schedule with the roll out expected to be largely complete by the end of this
financial year.
The full results for the six months will be announced on 6 November 2006.
There will be a telephone conference call today at 09.00am for analysts and
investors. Dial-in instructions are set out below.
Enquiries:
Ian Mason Group Chief Executive 01865 204000
Simon Boddie Group Finance Director 01865 204000
Diana Soltmann Flagship Consulting 020 7886 8440
Details of telephone dial in instructions:
Date: 27 September 2006
UK Time: 08:50am for 09:00am
UK Local Call Dial-In: 0845 144 0016
UK Free Call Dial In: 0800 953 0937
Europe & International Dial-In: +44 (0) 1452 569 103
Canada Toll Free Dial In: 1800 795 6202
USA Toll Free Dial-In: 1866 224 2914
Quote Reference Number: 4631637
Chairman: Ian Mason
Electrocomponents plc
Safe Harbour Statement:
This announcement contains certain statements, statistics and projections that
are or may be forward-looking. The accuracy and completeness of all such
statements, including, without limitation, statements regarding the future
financial position, strategy, projected costs, plans and objectives for the
management of future operations of Electrocomponents plc and its subsidiaries is
not warranted or guaranteed. These statements typically contain words such as '
intends', 'expects', 'anticipates', 'estimates' and words of similar import. By
their nature, forward-looking statements involve risk and uncertainty because
they relate to events and depend on circumstances that will occur in the future.
Although Electrocomponents plc believes that the expectations reflected in such
statements are reasonable, no assurance can be given that such expectations will
prove to be correct. There are a number of factors, many of which are beyond the
control of the Electrocomponents plc, which could cause actual results and
developments to differ materially from those expressed or implied by such
forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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