Electrocomponents PLC
26 September 2007
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 ending 30 September 2007.
The implementation of the Group's strategy is continuing with the differentiated
EEM and MRO offers increasingly appealing to our customers as shown by the
Group's revenue growth.
Revenue during the half year is expected to grow at around 7% for the Group
comprising 11% for International and 2% for the UK. Within International, which
represents some 60% of Group turnover, sales are expected to grow by around 9%
in Europe, 12% in North America and 15% in Asia Pacific. All growth rates are
adjusted for trading days and exchange rate movements.
The gross margin of the Group is expected to be around 50.1% for the half year.
Allied, the Group's North American business, is moving to its new warehouse
facility in Fort Worth, Texas. The move is progressing well and it is expected
to be successfully completed during November 2007. This facility, which is
twice the size of the former warehouse, will support the future growth of the
business.
While we are watchful of the general macro economic conditions, and those in
North America in particular, the Board is confident that this financial year
will be another of good progress.
The full results for the six months will be announced on 9 November 2007.
Enquiries:
Ian Mason Group Chief Executive 01865 204000
Simon Boddie Group Finance Director 01865 204000
Diana Soltmann Flagship Consulting 020 7886 8440
There will be a telephone conference call today at 09.00am for analysts and
investors. Dial-in instructions are set out below.
Date: 26 September 2007
UK Time: 08:50am for 09:00am
UK Local Call Dial-In: 0845 302 2569
UK Free Call Dial-In: 0808 238 0678
Europe & International Dial-In: + 44 (0) 1452 587 436
Canada Toll Free Dial-In: 1866 645 2898
USA Toll Free Dial-In: 1866 854 5856
Quote Reference Number: 14362373
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 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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