Electronic products distributor Electrocomponents has seen revenues grow 4% in the four months to January 31st, with strong growth internationally offsetting a more subdued performance in the UK.
Revenue from International businesses grew by 5% collectively, with Continental Europe increasing by 5%, North America by 5% and Asia Pacific by 7%. UK revenues grew by 1%. "The group has performed well against strong comparatives during the four months to 31 January 2012."
However in January, group revenue saw an increase of just 1%, with International revenue (which accounts for 70% of sales) rising by 1% and UK being flat.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The Group is performing well in the current macroeconomic environment," said Chief Executive Ian Mason. "The implementation of our electronics, maintenance and eCommerce initiatives is driving business performance, with all regions delivering revenue growth," he said.
The enhanced websites for its RS Components brand, along with increasing spend on search engine marketing, have contributed to eCommerce revenue growth of around 16%. eCommerce sales now account for 55% of group sales, compared with 49% the year before.
Shares were up 0.38% at 235p in early trading on Friday.
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
