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BRIEF-Electrocomponents sees full-year results ahead of previous expectations
April 6, 2017 / 6:25 AM / 4 months ago

BRIEF-Electrocomponents sees full-year results ahead of previous expectations

2 Min Read

April 6 (Reuters) - Electrocomponents Plc

* Trading update

* Our results for full year ended 31 march 2017 to be ahead of our previous expectations

* Q4 revenue growth accelerated to 8 pct leading to revenue growth of 5 pct for full year

* Revenues in quarter have also benefitted from a more favourable competitive environment in quarter.

* RS Pro, our own-brand business, which accounts for around 12 pct of revenues saw revenue growth of around 5 pct in q4.

* Ecommerce, which represents around 60 pct of revenues saw revenue growth of around 8 pct in q4, broadly in line with group growth rate.

* Expect a similar year-on-year percentage point improvement in full-year gross margin to that seen in first-half gross margin.

* Continue to make good progress on our cost initiatives and are on track to deliver £18 million of net savings in year to march 2017

* Fy 2017 revenue and profits have seen a significant benefit from foreign exchange

* Fy 2018 we expect to see an adverse impact on revenues and profits from fewer trading days compared with fy 2017 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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