Acal reports good progress

published 2 February 2012

Acal, the European specialist provider of technology products and services, has reported good progress throughout the half year in its Electronics division, which accounts for around 90% of group profitability.

The firm's gross profit has grown by 4% year-on-year, driven by further growth in gross margins as a result of its ongoing focus on sales of specialist products and solutions.

Development of the new web platform is progressing as planned, the company said, with roll-out on track and expected to begin after the summer period.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Trading in the Supply Chain division continued to be stable, with ongoing margin improvement. The division has recently won a significant new contract with an international IT hardware provider to manage the processing and provision of spare parts which will become active during the next financial year.

The group remains on track to deliver full-year results in line with management's expectations.

Chief Executive Nick Jefferies said: "With a robust balance sheet, low levels of debt, and high levels of committed banking facilities, the group is well positioned to continue its development as the leading specialist electronics distributor in Europe."

The share price rose 6.98% to 184.00p by 14:27.