Profits in the second quarter surged to £23.8m from £10.7m in the corresponding quarter last year. The recovery has continued into August with sales up more than 25 per cent year on year says the company.
Revenue for the second quarter showed a healthy 30 per cent rise to £252.1m from last year's £183.7m. In the first half of the year sales rose 25 per cent to £497m from £388m last year.
Half year profits came in a whopping 58 per cent ahead of last year at £55.5m.
European sales grew 37 per cent against last year. The glittering numbers continue in Asia/Pacific where sales grew 47.8 per cent. North America sales rose 31.9 per cent.
All regions showed an increase in web sales none more so than north America where web sales grew 77.4 per cent. In Europe and Asia/Pacific eCommerce accounted for 60.7 per cent and 56 per cent of sales respectively.
Commenting on the results, Harriet Green, Group Chief Executive, said:
“The Group’s second quarter sales and operating profits were the highest for 10 years. This reflects the continued progress in our strategy and market share growth as well as the broader-based increased activity levels in the global electronics supply chain.
“In August our Group sales have continued to grow, up over 25% year on year. However, despite the strong first half performance we remain cognisant of the uncertainties surrounding the economic backdrop and the inherent limited visibility we have in our business. The positive first half performance as well as the Board’s confidence in the continued execution of the strategy and the benefit of our initiatives to support the goals for the next 1,000 days underpins the decision to increase the interim dividend to 4.4 pence per share.”
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