Interim Management Statement

RNS Number : 4751J

Electrocomponents PLC

17 July 2013

 



ELECTROCOMPONENTS PLC

Interim Management Statement

Electrocomponents plc, the world's leading high service distributor of electronics and maintenance products, has today issued its interim management statement for the year ending 31 March 2014 which covers the first quarter ended 30 June 2013

In the first quarter Group underlying sales growth ⁽¹⁾ was around 1%. International grew by 2% and the UK declined by 3%.

The change in the UK sales performance from being flat in the first seven weeks of the quarter is due to the phasing of Raspberry Pi ⁽²⁾ sales in the prior year. UK sales growth excluding Raspberry Pi was similar across the quarter, declining around 3%.

Within International both Continental Europe and North America grew by 3% and Asia Pacific declined by 1%.

eCommerce sales continue to grow faster than the Group as a whole, benefitting from our investments in website functionality. eCommerce sales growth was 6%, resulting in eCommerce comprising 56% of Group revenues during the quarter.

There have been no significant changes to the Group's strong financial position during the period.

Ian Mason, Group Chief Executive, commented:

"In the first quarter Group underlying sales growth has remained similar to the second half of last year, at around 1%. Whilst mindful of challenging economic conditions, the implementation of our global strategy is underway and we continue to expect to make progress towards our medium-term performance goals."

Enquiries:
Ian Mason	Group Chief Executive	01865 204000
Simon Boddie	Group Finance Director	01865 204000
Matt Jones	Head of Investor Relations & Corporate PR	01865 207427
David Allchurch / Martin Robinson	Tulchan Communications	020 73534200

Notes:

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

⁽²⁾ 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 computer development skills in education across the world.

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UK Time:	From 07:35 for 07:45 call
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Chairman:	Ian Mason
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