Electrocomponents struck an upbeat note reporting group sales up four per cent in Q4 to the end of March, and stating that full year results, to be announced on May 22, will be in line with expectations.
Ian Mason, Group Chief Executive, commented: “Group sales growth in the final quarter was 4%. Sales trends across our International business, which has grown to comprise over 70% of Group sales, have gradually improved as the year has progressed. This partly reflects the improvement in manufacturing Purchasing Managers Indices during the year, but we also believe that our International sales growth reflects share gains from our numerous smaller competitors.”
International sales growth was around 6% and UK sales were flat. Within International, Continental Europe grew by 5%, North America grew by 8% and Asia Pacific grew by 7%.
The distributor also reported that during the quarter eCommerce sales continued to grow faster than the Group as a whole, benefitting from improvements to online functionality. Group eCommerce sales growth was around 7%, resulting in eCommerce comprising around 59% of Group sales in the quarter
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