The third quarter numbers held up pretty well at Premier Farnell. Profits were up four per cent on revenues up two per cent year.
The most striking number is the 25 per cent increase in web sales, and the ambition is to make three quarters of the business web-based by 2010. The carrot is the much lower operating costs to be gained from doing business on the web. The company head count was down by 300 in the quarter and the march on the web has the company expecting savings of £12m by 2010.
East Europe and China also kept up spirits at Premier Farnell, delivering sales growth of 81 per cent and 29 per cent respectively. India chipped in a very handy 21 per cent increase.
Profit in the quarter was £17.7m on revenues of £209.1m.
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