Revenues flat at Electrocomponents

It is a case of more of the same in the new financial year for Electrocomponents, with UK sales continuing to bounce back while International sales decline.

The electronics and maintenance products distributor said sales in the three months to the end of June were at a similar level to the previous financial year.

International sales declined by 2%, with sales in Continental Europe up by 1% year-on-year while revenues in North America and Asia Pacific both declined, by 4% and 3% respectively.

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On the bright side, the UK business grew by 5%, two percentage points of which were accounted for by Raspberry Pi, the credit card sized single-board computer designed and developed by the charitable organisation, the Raspberry Pi Foundation.

The maintenance products part of the business, which accounts for around two-fifths of group sales, saw top line growth, with automation and control products performing well, while the electronics side of the business saw revenue decline.

The importance of online sales continues to grow, and the bulk of sales are achieved through this channel. The group said around 54% of revenue generating transaction during the quarter were done online.

Ian Mason, Group Chief Executive, noted that the first quarter of last year was a very strong one and that the economic climate remains tough. "We are mindful of the macroeconomic environment and, as we have demonstrated in previous years, we are able to respond quickly to changing conditions," Mason said.

Nevertheless, Mason is banking on the group's economies of scale and global reach to outdo the numerous, smaller distributors against which the group competes.

JH