Trading Statement

RNS Number : 0711B

Electrocomponents PLC

28 March 2013

 



Electrocomponents plc, the world's leading high service distributor of electronics and maintenance products, today issues a pre-close trading update for the year ending 31 March 2013 ahead of publishing full-year results on 23 May 2013.

In the final quarter Group underlying sales growth⁽¹⁾ is expected to be around 1%. Group eCommerce sales growth will be around 8%, giving Group eCommerce sales share in the quarter of around 57%.

	Sales growth(1)
	Q4	Full Year
Region	FY13	FY13
Continental Europe	2%	1%
North America	0%	-3%
Asia Pacific	-2%	0%
International	1%	-1%
UK	1%	4%
Group	1%	0%
UK excluding Raspberry Pi(2)	-1%	1%

As expected, during the second half Group operating margin has responded positively to our actions to improve gross margin and control operating costs, and has benefitted from the efficiencies resulting from the implementation of our new global organisation structure.

We anticipate that Group headline profit before tax⁽³⁾ for the full year will be in line with market expectations⁽⁴⁾.

Ian Mason, Group Chief Executive, commented:

"Our initiatives to drive sales growth and increase operating margins led to a significant improvement in performance in the second half.

I am pleased with the progress we have made implementing the new global organisation structure. This structure will enable the development of a truly global product offer and the formation of a single global marketing approach. Over time this should drive faster customer acquisition and allow us to accelerate the implementation of our strategic initiatives. With a strong balance sheet and leading global market positions, we believe the Group is well placed to take advantage of the structural growth opportunities that exist in our markets."

Enquiries:

Ian Mason	Group Chief Executive	01865 204000
Simon Boddie	Group Finance Director	01865 204000
Matt Jones	Head of Investor Relations and Corporate PR	01865 207427
John Sunnucks / David Allchurch / Martin Robinson	Tulchan Communications	020 7353 4200

Notes:

(1)  Sales growth rates, unless otherwise stated, are adjusted for trading days and currency movements ("underlying sales growth/decline").

(2)  Sales of Raspberry Pi globally are principally recorded in the UK. The Raspberry Pi is a low-cost, credit card sized single-board computer designed and developed by the Raspberry Pi Foundation, a charity established to promote the development of computer development skills in education across the world.

(3)  Headline profit before tax is reported profit before tax before reorganisation costs.

(4)  The consensus for full year headline profit before tax is £98 million, with a range of £90 million to £103 million (FY12: £122.3 million).

Electrocomponents plc - Conference Call Dial-in Instructions

There will be a telephone conference call today at 08.00h for analysts and investors with replay access to Friday 12 April 2013.  Dial-in instructions are set out below.

Date:	Thursday 28 March 2013
UK Time:	From 07:50h for 08:00h call
Telephone number:	[phone]
Conference ID:	25649537
Chairman:	Ian Mason
Electrocomponents plc - Replay Dial-in Instructions (available until Friday 12 April 2013)
Replay Telephone number:                             [phone]
Conference Access Number:                          25649537#

 

END

 

 

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