Electrocomponents PLC
15 July 2005
Embargoed to 2.00pm 15 July 2005
ELECTROCOMPONENTS PLC
Electrocomponents plc, the major international high service distributor, has
today given a trading update at its Annual General Meeting.
Trading Update
We announced our results for the year ended 31 March 2005 on 25 May 2005 and
provided a review of current trading as part of that announcement.
Since the year end, sales have continued to grow strongly on last year in North
America, Asia, Japan and the smaller European businesses. Our businesses in
France, Germany and Italy have shown some recovery in sales growth, but the rate
has been variable. Sales of the UK business have declined by 3.5% with
continuing pressure on margins. Overall Group sales have grown by 2.5%. Sales
growth rates are adjusted for exchange rates and trading days.
The implementation of the Enterprise Business Systems project in the UK is
progressing well with the system build phase, a major milestone, now complete.
We continue to be cautious on the trading outlook given the uncertainties in our
major markets.
Contacts:
Ian Mason Chief Executive 01865 204000
Jeff Hewitt Deputy Chairman / Finance Director 01865 204000
Diana Soltmann Flagship Consulting Ltd 0207 886 8440
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
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.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.