Strong growth in Central Europe and Asia Pacific has propelled Electrocomponents to 14% revenue growth in the first four months of its financial year to the end of January. All regions performed well. Asia Pacific’s 22% revenue growth led the charge followed by a 17% uptick for Central Europe.
Northern Europe contributed 13%, Southern Europe revenues grew 11% and The Americas revenue rose 12%.
Electrocomponents also cited strong momentum in digital with 15% underlying revenue growth in the period reflecting, says the company, success with its digital marketing strategy and improved online experience.
RS Pro, the Group’s own brand business motored to 14% revenue growth.
At the end of this financial year Electrocomponents will have completed the first phase of its Performance Improvement Plan which has delivered cumulative annualised savings of £30 million. New initiatives are being examine.
Lindsley Ruth, Chief Executive Officer, commented: “Our performance year to date has been pleasing and we are confident of delivering strong progress in the current financial year. The first phase of the Performance Improvement Plan is now complete, but we still believe we have a significant further opportunity to improve efficiency and reduce complexity allowing continued strong growth at higher operating margins. We remain excited by the opportunity for growth and improvement.”
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