Electrocomponents has navigated choppy distribution market waters to post a 5% increase in Q2 sales to September, up 1% from Q1. Half year revenues grew 5%.
Surging through the economic waves are the company’s own brand RSPro business where like for like sales accelerated 10% in the first half of the year.
North America awoke from recent slumbers to record a 7% Q2 sales increase following a flat performance in Q1.
EMEA sales reflected current macro uncertainties, and a slowdown in Germany, logging a 1% sequential increase to 6% growth in Q2.
The company also hints indicates there could be lower average selling prices on components in the second half, though it expects to offset any damage through strong growth from its fledgling OKdo business unit which is heading the Group’s push into the single board computing and IoT markets.
Lindsley Ruth (Pictured), Chief Executive Officer of Electrocomponents commented: “Our relentless focus on customer service, digital leadership and sales force effectiveness has been key in driving market share gains even in these more uncertain markets. We continue to invest in strategic initiatives to position the Group to deliver sustained growth over the longer term. We are pleased with our performance in H1 and remain on track to deliver good progress for the year.”
Comments are closed.