Electrocomponents Posts Positive Outlook

Everything is looking rosy in the Electrocomponents garden as the distributor reflected the upturn in the distribution sectors fortunes by reporting that its profit for the year will be above expectations at around £73m.

In the quarter ended March 31 sales were up 15 per cent. International business reported a very healthy 19 per cent increase while sales in the UK rose by 9 per cent.

North American sales led the way within the international businesses shooting up 28 per cent, Asia/Pacific was hot on its heels recording a 26 per cent sales increase. European sales grew 12 cent. Encouragingly the group's e-commerce revenues were up by 33 per cent.

Ian Mason (pictured), group chief executive, commented: “I am pleased to report that the Group’s sales growth has increased throughout the final quarter of the year with sales growing by around 15 per cent.

We are continuing to strengthen our electronics, maintenance and e-Commerce offers ensuring that we are well positioned to take advantage of the opportunities in our markets”.