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Electrocomponents sees full-year profit ahead of market expectations
April 6, 2017 / 7:15 AM / 8 months ago

Electrocomponents sees full-year profit ahead of market expectations

April 6 (Reuters) - Electrocomponents Plc said it expected pretax profit for the year ended March to exceed current market expectations, after reporting an 8 percent rise in fourth-quarter revenue on growth recovery in North America and favourable currency impact.

The company, which distributes more than 500,000 electrical products from 2,500 leading suppliers, said North America revenue for the quarter ended in March rose 16 percent. The company will release full-year results in May.

The market expects headline pretax profit for the year in the range of 122.3 million pounds - 124.2 million pounds ($152.7 million - $155.1 million), the company said.

Electrocomponents said it expected weakness in the sterling to push up full-year profit before tax by around 18 million pounds.

$1 = 0.8009 pounds Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri

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