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BRIEF-Electrocomponents says Q1 underlying revenue growth up 13 pct
July 3, 2017 / 6:22 AM / 2 months ago

BRIEF-Electrocomponents says Q1 underlying revenue growth up 13 pct

July 3 (Reuters) - Electrocomponents Plc:

* Trading update for its Q1 ended 30 June 2017

* Have made a strong start to year to march 2018, with an acceleration in revenue growth and improved profits

* Q1 underlying revenue growth accelerated to 13 pct with all regions seeing double-digit underlying revenue growth

* Constant currency revenue growth, not adjusted for trading days, closer to 10 pct

* Acceleration in Q1 revenue growth has been driven by an increase in growth in Europe and Asia

* Asia and Americas in particular, saw strong double-digit growth against a period of weak trading comparatives

* Also seeing higher variable and incentive costs associated with faster revenue growth

* Exceptional charge of around 4 mln stg in first half of year to march 2018 Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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