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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
